Shoals technologies group, inc. announces pricing of upsized initial public offering

Portland, tenn., jan. 26, 2021 (globe newswire) -- shoals technologies group, inc. (the “company”) today announced the pricing of its upsized initial public offering of 77,000,000 shares of its class a common stock at a price to the public of $25.00 per share. the offering consists of 9,000,000 shares of class a common stock being sold by the company and 68,000,000 shares of class a common stock being sold by a parent entity of the company controlled by funds managed by oaktree capital management, l.p. (the “selling stockholder”). in addition, the company and the selling stockholder granted the underwriters a 30-day option to purchase up to an additional 11,550,000 shares (the “additional shares”) at the public offering price, less underwriting discounts and commissions. the additional shares consist of up to 2,550,000 shares of class a common stock offered by the company and up to 9,000,000 shares of class a common stock offered by the selling stockholder. the company will not receive any proceeds from any sale of shares by the selling stockholder. the shares of class a common stock are expected to begin trading on the nasdaq global market on january 27, 2021 under the symbol “shls.” the offering is expected to close on january 29, 2021, subject to customary closing conditions.
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