Solar company Shoals Technologies raises billions in IPO


Shoals Technologies Group and its parent sold 88.5 million shares during the initial public offering in late January.
February 1, 2021 Joe Bebon
Shoals Technologies Group marked its Wall Street premiere by raising more than $2.2 billion in the solar company’s initial public offering (IPO).
Shoals said its balance-of-systems (BOS) systems are deployed on more than 20 GW of solar projects globally.
The Tennessee-based firm and its parent entity first intended to offer 50 million shares of Class A common stock priced between $19.00 and $21.00 per share. Shoals later upsized the IPO to 77 mi