SolarEdge looks for to raise USD 590m from share sale

• Israel-based inverter distributor SolarEdge Technologies Inc (NASDAQ: SEDG) is wanting to raise total gross proceeds of USD 590 million (EUR 534m) through the issuance of common stock.

The company on Thursday valued the organized offering of 2 million shares at USD 295.00 apiece. It has approved a 30-day option to the underwriters so they can acquire up to an added 300,000 shares of its common stock at the same rate. If the option is worked out in full, this will certainly include USD 88.5 million to the total sum raised.

SolarEdge intends to utilize the proceeds for basic company purposes, which may consist of procurements, it claimed, noting that it does not already have any kind of such handle place.

The deal is seen to be settled on March 22, 2022. Goldman Sachs & Co LLC, JP Morgan Securities LLC as well as Morgan Stanley & Co LLC serve as joint book-running managers for the offering and also as the representatives of the underwriters.