Secondary Stock OfferingsBy The Online Investor Staff, updated Sat., May. 8, 5:22 AM
|This Slide: #21 of 25|
Slide #21. Maxeon Solar Technologies, Ltd. — Secondary Offering
Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)
Date of Pricing:
Price Per Share:
Secondary Offering Details:
Maxeon Solar Technologies, Ltd. (Maxeon) (NASDAQ: MAXN) today announced the pricing of an underwritten public offering of $125.0 million of ordinary shares at a price of $18.00 per share. Maxeon also granted the underwriters a 30-day option to purchase up to an additional $18.7 million of ordinary shares in the public offering on the same terms and conditions. Maxeon expects to receive net proceeds from the offering of approximately $117.1 million after underwriting discounts and commissions and estimated offering expenses (or approximately $134.9 million if the underwriters exercise their option to purchase additional shares). The offering is expected to close on April 20, 2021, subject to customary closing conditions (the "Offering").
Maxeon Solar Technologies is global energy company, technology developer, and manufacturer and marketer of premium solar panels headquartered in Singapore. Co. manufactures solar cells in Malaysia and the Philippines, assembles solar cells into panels in France, Mexico and China (through its joint venture, Huansheng), and sells its products across more than 90 countries. Co.'s two product technologies include: the 'Maxeon Line,' which utilizes Co.'s interdigitated back contact (IBC) technology, and the 'Performance Line,' which utilizes Co.'s shingled cell technology. Co.'s proprietary technology platforms targets both the distributed generation and power plant markets.
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Hold (2.50 out of 4)