FTC Solar’s Initial Public Offering

Goodwin Procter LLP advised the underwriters on the deal.

FTC Solar, Inc. (“FTC”) announced the pricing of its initial public offering of 19,840,000 shares of its common stock at a price of $13.00 per share, before underwriting discounts and commissions. The shares are expected to begin trading on The Nasdaq Global Market on April 28, 2021 under the symbol “FTCI.” The offering is expected to close on April 30, 2021, subject to customary closing conditions. FTC has granted the underwriters a 30-day option to purchase up to an additional 2,976,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

FTC intends to use the net proceeds that it receives from this offering for general corporate purposes, with a portion of the net proceeds used to purchase shares of its common stock from certain of its employees, officers, directors and other stockholders.

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.

The Goodwin team was led by Benjamin Marsh (Picture), Martin Gomez, Kenneth Radcliffe, William Harrington, Elena Hera, Sean Toner and Michael Wang.

 

Involved fees earner: Martin Gomez – Goodwin Procter; William Harrington – Goodwin Procter; Elena Hera – Goodwin Procter; Ben Marsh – Goodwin Procter; Kenneth Radcliffe – Goodwin Procter;

Law Firms: Goodwin Procter;

Clients: Bank of America Securities; Barclays Bank; Cowen Inc.; Credit Suisse; HSBC; Raymond James Ltd. ; Roth Capital Partners, LLC; Simmons Energy; UBS Investment Bank;

Author: Martina Bellini