Shoals technologies group, inc. announces closing of initial public offering

Portland, tenn., jan. 29, 2021 (globe newswire) -- shoals technologies group, inc. (nasdaq:shls) (the “company”) today announced the closing of its upsized initial public offering of 88,550,000 shares of class a common stock. the offering consisted of 11,550,000 shares of class a common stock issued and sold by the company, which included an additional 2,550,000 shares of the company's class a common stock following the exercise in full of the underwriters' option to purchase additional shares of the company's common stock from the company, and 77,000,000 shares of class a common stock sold by a parent entity of the company controlled by funds managed by oaktree capital management, l.p. (the “selling stockholder”), which included an additional 9,000,000 shares of the company's class a common stock following the exercise in full of the underwriters' option to purchase additional shares of the company's common stock from the selling stockholder, in each case at an initial public offering price of $25.00 per share. the class a common stock began trading on the nasdaq global market under the symbol “shls” on january 27, 2021.
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