FTC Solar Raises $258M From IPO Priced At $13 Per Share

FTC Solar, Inc FTCI priced 19.84 million shares at $13 per share to raise $257.92 million in its initial public offering (IPO).
The shares are expected to begin trading under the symbol “FTCI” on the Nasdaq today.
The underwriters have a 30-day option to purchase additional shares up to 2.98 million.
FTC will utilize the offering proceeds for general corporate purposes and share buyback from certain employees, officers, directors, and other stockholders.
Barclays, BofA Securities, Credit Suisse, and UBS Investment Bank are the joint book-running managers and representatives of the underwriters for the offering.

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