SMXT News

Only one small IPO debuted this past week. Solar energy company SolarMax Technology (SMXT) raised $18 million at a $178 million market cap. It primarily sells and installs LED lighting and retrofitting services, as well as integrated photovoltaic systems in the US. The company owns a unit that provides solar project services in China, although it has not produced...read more

SolarMax Technology, which sells solar energy equipment and LED light systems, raised $18 million by offering 4.5 million shares at $4.00. The company announced its pricing and began trading on Tuesday, opening below issue at $3.50 but finishing at $8.00, for a day-one return of 100%. SolarMax had a long road to its IPO. The company first filed confidentially in late 2016,...read more

SolarMax Technology, which sells solar energy systems in the US and works on solar farm projects in China, lowered the proposed deal size for its upcoming IPO on Friday. In its latest filing, the company also disclosed financials for the three months ended March 31, 2023. The Riverside, CA-based company now plans to raise $18 million by offering 4.5 million shares at $4. The...read more

Last week, ticket marketplace SeatGeek announced that it had filed confidentially for an IPO, becoming the latest company to revamp its path to public markets following a terminated SPAC merger. In October 2021, SeatGeek announced its plan to go public through a merger with RedBall Acquisition, a SPAC formed by RedBird Capital. The deal implied a $1.35 billion...read more