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Nextracker Priced, Nasdaq: NXT

Provides utility-scale advanced solar tracker systems.

Industry: Industrials

Latest Trade: $33.54 0.00 (0.0%)

First Day Return: +26.9%

Return from IPO: +39.8%

Industry: Industrials

Our mission is to be the world’s leading energy solutions company enabling the most intelligent, reliable and productive solar power for future generations. We are a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects around the world. Our products enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. We have led the solar industry based on GW shipped globally in 2015 and both globally and in the United States from 2016 to 2021. Over the past several years, the cost of solar energy has declined significantly, and today utility-scale solar is one of the lowest cost sources of wholesale energy production, driving demand for solar energy globally. In addition, demand for renewable energy continues to increase as countries, industries and firms move to reduce their carbon footprint and pursue more aggressive decarbonization targets. Electrification, including the proliferation of electric vehicles and the replacement of natural gas with electricity in buildings and residences, is expected to drive increased demand for energy production, including solar energy. We believe that both the attractive cost of solar generation and increasing demand for renewable energy will drive continued growth in the utility-scale solar market.
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IPO News for Nextracker
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IPO Data
IPO File Date 01/13/2023
Offer Price $24.00
Price Range $20.00 - $23.00
Offer Shares (mm) 26.6
Deal Size ($mm) $638
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 02/08/2023
Offer Price $24.00
Price Range $20.00 - $23.00
Offer Shares (mm) 26.6
Deal Size ($mm) $638
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Fremont, CA
Founded 2013
Employees 550
Website www.nextracker.com