FTC Solar Inc. (FTCI) Announces Proposed 18.42M Share IPO Between $18-$20/Sh
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FTC Solar, Inc. (NASDAQ: FTCI) today announced that it has launched the roadshow for its initial public offering of shares of its common stock. FTC is offering 18,421,053 shares of its common stock. The initial public offering price is expected to be between $18 and $20 per share, before underwriting discounts and commissions. In addition, FTC expects to grant the underwriters a 30-day option to purchase up to an additional 2,763,157 shares of common stock at the initial public offering price, less underwriting discounts and commissions. FTC has applied to list its common stock on the Nasdaq Global Market under the symbol “FTCI.”
FTC intends to use the net proceeds that it receives from this offering for general corporate purposes, with a portion of the net proceeds used to purchase shares of its common stock from certain of its employees, officers, directors and other stockholders.
Barclays, BofA Securities, Credit Suisse and UBS Investment Bank are acting as joint book-running managers and representatives of the underwriters for the proposed offering. HSBC is acting as a book-running manager and Cowen, Simmons Energy | A Division of Piper Sandler, Raymond James and Roth Capital Partners are acting as co-managers for the proposed offering.
The proposed offering will be made only by means of a prospectus.
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Create E-mail Alert Related CategoriesCorporate News, Equity Offerings, IPOs
Related EntitiesCredit Suisse, UBS, The Children's Investment Fund (TCI), Raymond James, Roth Capital, Barclays, HSBC, Cowen & Co, IPO
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