SolarJuice, a provider of solar energy equipment and services being spun out of SPI Energy, announced new terms for its upcoming IPO on Tuesday.
The Sydney, Australia-based company plans to raise $45 million by offering 9 million shares at a price range of $4 to $6. At the midpoint of the proposed range, SolarJuice would command a market value of $170 million.
The company originally filed for an IPO in September 2022, most recently planning to raise $17 million by offering 3 million shares at a range of $5 to $6. After not updating its prospectus for nearly six months, the company revived its plans for an IPO with a new blank filing this past September.
SolarJuice provides solar photovoltaic (PV) based energy solutions for residential and small commercial building markets in Australia and the US. The company wholesales and distributes PV modules, solar energy inverters, batteries and storage devices, other solar balance of system components, and accessories to commercial customers located in every state and territory of Australia. The company is also a roofing contractor, and resells and installs solar energy systems to residential and commercial customers in five states in the US. It also designs, manufactures, and sells PV modules and related products to customers.
SolarJuice was founded in 2017 and booked $180 million in revenue for the 12 months ended June 30, 2023. It plans to list on the Nasdaq under the symbol SJA. Maxim Group LLC and Freedom Capital Markets are the joint bookrunners on the deal.
