Australia's SolarJuice cuts size of US IPO

Australian solar systems maker SolarJuice Co Ltd has reduced the size of its planned initial public offering (IPO) in the US to up to USD 18 million (EUR 16.8m) in gross proceeds by lowering the targeted price range for the transaction.

SolarJuice, a unit of renewable energy company SPI Energy Co Ltd (NASDAQ:SPI), has increased the number of shares to be placed in the IPO to three million and expects the units to be priced at USD 5.00-6.00 apiece.

The Sydney-based firm filed for the IPO in September 2022. It originally intended to sell 2.5 million units at USD 7.00-9.00 each.

SolarJuice has applied to list its shares on the Nasdaq stock exchange under the symbol “SJA”. At the top end of the revised IPO terms, the company’s market capitalisation could reach USD 168 million, based on the number of shares outstanding listed in the prospectus.

(USD 1 = EUR 0.934)

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