Shoals technologies group, inc. announces pricing of an offering of 13,384,155 shares of class a common stock

Portland, tenn., july 15, 2021 (globe newswire) -- shoals technologies group, inc. (nasdaq: shls) (the “company”) today announced the pricing of an underwritten public offering of an aggregate of 13,384,155 shares of the company's class a common stock, at a price to the public of $28.00 per share. the company is offering 8,394,463 shares of its class a common stock, the net proceeds of which will be used to purchase equity interests in its operating subsidiary from certain holders including its founder dean solon, director brad forth, chief executive officer jason whitaker and chief financial officer philip garton (collectively, the “existing stockholders”). additionally, certain selling stockholders, including an entity controlled by oaktree capital management, l.p. (“oaktree”) and mehgan peetz, the company's general counsel (the “selling stockholders”), are offering 4,989,692 shares of the company's class a common stock. the company will not receive any of the proceeds from the sale of shares offered by the selling stockholders.   the company also granted the underwriters a 30-day option to purchase up to an additional 2,007,623 shares of class a common stock.   the company's class a common stock is listed on the nasdaq global market under the symbol “shls.” the offering is expected to close on july 19, 2021, subject to customary closing conditions.
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