By Lisa Kerner
Charlotte, N.C., March 26 – SolarEdge Technologies, Inc. said it could raise $126 million in its initial public offering of stock.
The company is selling 7 million shares at $18 apiece.
The underwriters have been granted a 30-day option to purchase up to 1.05 million additional shares, potentially lifting proceeds by another $18.9 million, according to a company news release.
The shares are expected to begin trading Thursday on the Nasdaq Global Select Market under the ticker symbol “SEDG.”
Settlement is expected on March 31.
Goldman Sachs & Co. and Deutsche Bank Securities Inc. are acting as joint bookrunning managers for the offering.
As previously reported in February, SolarEdge said it planned to raise up to $125 million in an initial public offering of its common stock.
SolarEdge will use the proceeds to increase its capitalization and financial flexibility, increase its visibility in the marketplace and create a public market for the company’s common stock.
SolarEdge Technologies provides end-to-end distributed solar power optimization and PV monitoring solutions. The company is based in Hod Hasharon, Israel, and has an office in Fremont, Calif.
Issuer: | SolarEdge Technologies, Inc.
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Issue: | Common stock
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Amount: | $126 million
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Greenshoe: | $18.9 million
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Shares: | 7 million
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Price: | $18 each
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Bookrunners: | Goldman Sachs & Co. and Deutsche Bank Securities Inc.
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Co-managers: | Needham & Co., Canaccord Genuity Inc., Roth Capital Partners
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Pricing date: | March 26
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Settlement date: | March 31
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Stock symbol: | Nasdaq: SEDG
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