Fluence Energy Inc. (NASDAQ: FLNC) announced that certain controlling stockholders will sell 20 million shares of Class A common stock through an underwritten public offering. The selling stockholders have granted underwriters a 30-day option to purchase an additional 3 million shares under the same terms.

Fluence will not sell any shares in the offering and will not receive proceeds from the sale. The company filed an automatic shelf registration statement on Form S-3 with the Securities and Exchange Commission on May 12, which became effective upon filing.

Barclays, Goldman Sachs & Co. LLC and J.P. Morgan are serving as joint book-running managers for the offering. The sale will be conducted through a prospectus supplement and accompanying prospectus.

Fluence operates as an energy storage and optimization software provider for renewables and storage systems. The company has contracted, deployed and manages gigawatts of projects across nearly 50 markets.