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Nextracker IPO prices at $24

AuthorFrank DeMatteo
Published 09/02/2023, 12:40
© Reuters.
FLEX
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Flex Ltd. (FLEX) announced today that its subsidiary, Nextracker Inc. (NXT), priced its upsized initial public offering of 26,600,000 shares of its Class A common stock at an initial public offering price of $24.00 per share. The stock is expected to start trading today on the Nasdaq.

In addition, Nextracker has granted the underwriters a 30-day option to purchase up to an additional 3,990,000 shares of Common Stock at the initial public offering price, less underwriting discounts and commissions.

J.P. Morgan, BofA Securities, Citigroup, and Barclays are acting as joint lead book-running managers for the offering. Truist Securities, HSBC, BNP PARIBAS, Mizuho, Scotiabank, and KeyBanc Capital Markets are acting as joint book-running managers for the offering. SMBC Nikko, BTIG, UniCredit, Roth Capital Partners, and Craig-Hallum will act as co-managers for the offering. PJT Partners is serving as independent financial advisor to Flex Ltd. in the offering.

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