Nextracker (NXT) IPO opens higher

Today's IPO for Nextracker Inc. (NASDAQ: NXT) opened for trading after pricing 26,600,000 shares at $24. Shares last traded at $29.50 after opening at $30.31.

Nextracker is being spun-out from Flex Ltd. (NASDAQ: FLEX).

J.P. Morgan, BofA Securities, Citigroup, and Barclays are acting as joint lead book-running managers for the offering. Truist Securities, HSBC, BNP PARIBAS, Mizuho, Scotiabank, and KeyBanc Capital Markets are acting as joint book-running managers for the offering. SMBC Nikko, BTIG, UniCredit, Roth Capital Partners, and Craig-Hallum will act as co-managers for the offering. PJT Partners is serving as independent financial advisor to Flex Ltd. in the offering.

Nextracker is the leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar power plants 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.

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