FTC Solar (FTCI) IPO Opens 17% Higher

Today's IPO for FTC Solar, Inc. (NASDAQ: FTCI) opened for trading at $15.21 after pricing 19,840,000 shares of its common stock at a price of $13.00 per share.

Barclays, BofA Securities, Credit Suisse and UBS Investment Bank are acting as joint book-running managers and representatives of the underwriters for the offering. HSBC is acting as a book-running manager and Cowen, Simmons Energy | A Division of Piper Sandler, Raymond James and Roth Capital Partners are acting as co-managers for the offering.

Founded in 2017 by a group of renewable energy industry veterans, FTC Solar is a fast-growing, global provider of solar tracker systems, technology, software, and engineering services.  Solar trackers significantly increase energy production at solar power installations by dynamically optimizing solar panel orientation to the sun.  FTC Solar’s innovative tracker designs provide compelling performance and reliability, with an industry-leading installation cost-per-watt advantage.

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