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Flex's Nextracker Raises Over $638M Via Upsized IPO; To Begin Trading Today

BY Benzinga — 5:09 AM ET 02/09/2023

Flex Ltd NASDAQ:FLEX owned solar technology firm Nextracker Inc NASDAQ:NXT raised $638.4 million via an upsized initial public offering of 26.6 million shares at $24 per share.
Nextracker upsized the offering from 23.3 million shares it chose to offer at $20.00 - $23.00 per share.
Nextracker will likely trade on the Nasdaq under the ticker symbol "NXT" on February 9, 2023.
The underwriters have 30 days to purchase up to 3.99 million shares.
Nextracker provides intelligent, integrated solar tracker and software solutions used worldwide in utility-scale and distributed-generation solar power plants.
Price Action: FLEX shares closed lower by 1.23% at $24.15 on Wednesday.