Nextracker announces offering of 16.5M shares of Class A common stock

Nextracker announced that it has launched a proposed underwritten offering of 14.21M shares of its Class A common stock offered by Nextracker and 2.29M shares of common stock offered by certain stockholders of Nextracker. Nextracker expects to use all of the net proceeds from the offering of 14.21M shares of common stock by Nextracker to purchase 14.21M Nextracker common units from Yuma, an indirect wholly owned subsidiary of Flex Ltd., and TPG Rise Flash, an affiliate of the global alternative asset management firm TPG. Nextracker will not receive any proceeds from the sale of the shares of the selling stockholders. J.P. Morgan, BofA Securities, Barclays, and Citigroup are acting as joint lead book-running managers for the offering. Truist Securities, HSBC, BNP PARIBAS, Mizuho, KeyBanc Capital Markets and Scotiabank are acting as joint book-running managers for the offering. SMBC Nikko, BTIG, UniCredit Capital Markets, Roth Capital Partners and PJT Partners will act as co-managers for the offering.