Shoals Technologies Group’s $375 Million Stock Offering

Davis Polk advised the joint book-running managers and representatives of the underwriters in the offering.

Shoals Technologies Group, Inc. and certain selling stockholders executed the $375 million SEC-registered offering of 13,384,155 shares of common stock. The common stock is listed on the Nasdaq Global Market under the symbol “SHLS.”

Goldman Sachs & Co. LLC, J.P. Morgan, Guggenheim Securities, UBS Investment Bank, Morgan Stanley, Credit Suisse, and Barclays acted as joint book-running managers for the offering.

Shoals, headquartered in Portland, Tennessee, is a leading provider of electrical balance of system or “EBOS” solutions for solar energy projects in the United States. The company was founded to provide innovative EBOS solutions that reduce installation costs and improve reliability and safety. Shoals was the first company in the solar industry to successfully commercialize “plug-n-play” EBOS systems that use simple push connectors rather than the wire “crimps” used in conventional systems.

The Davis Polk capital markets team included partners Michael Kaplan (Picture) and Roshni Banker Cariello, counsel John H. Runne and associate Chad Howard. Counsel Marcie A. Goldstein provided FINRA advice.

Involved fees earner: Roshni Banker Cariello – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell; Chad Howard – Davis Polk & Wardwell; John Runne – Davis Polk & Wardwell; Michael Kaplan – Simpson Thacher & Bartlett;

Law Firms: Davis Polk & Wardwell; Simpson Thacher & Bartlett;

Clients: Barclays Bank; Credit Suisse; Goldman Sachs & Co.; Guggenheim Securities; J.P. Morgan Securities LLC; Morgan Stanley; UBS Investment Bank;

Author: Martina Bellini