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FTC Solar Priced, Nasdaq: FTCI

Provides utility-scale advanced solar tracker systems.

Industry: Industrials

Latest Trade: $0.38 0.00 (0.0%)

First Day Return: +9.7%

Return from IPO: -97.1%

Industry: Industrials

We are a global provider of advanced solar tracker systems, supported by proprietary software and value-added engineering services. Our mission is to provide differentiated products, software and services that maximize energy generation and cost savings for our customers, and to help facilitate the continued growth and adoption of solar power globally. Trackers significantly increase the amount of solar energy produced at a solar installation by moving solar panels throughout the day to maintain an optimal orientation relative to the sun. The combination of integrated hardware tracking technology and advanced software algorithms in solar tracker systems yields, on average, 25% more energy and delivers a 17% lower levelized cost of energy (“LCOE”) compared to fixed-tilt mounting systems, according to 2020 BNEF reports. Our systems offer efficiency gains relative to other tracker systems due to our tracker’s enhanced design, which includes a two-panel in-portrait format and independent rows, and its optimization for use with bifacial panels. Additionally, these efficiency gains can be enhanced by our proprietary software solutions.
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IPO Data
IPO File Date 03/26/2021
Offer Price $13.00
Price Range $18.00 - $20.00
Offer Shares (mm) 19.8
Deal Size ($mm) $258
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 04/27/2021
Offer Price $13.00
Price Range $18.00 - $20.00
Offer Shares (mm) 19.8
Deal Size ($mm) $258
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
Barclays
BofA Securities
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Company Data
Headquarters Austin, TX, United States
Founded 2017
Employees 178
Website ftcsolar.com

FTC Solar (FTCI) Performance