Leading North American microinverter provider Enphase Energy slashed the price range for its upcoming IPO in an amendment filed Wednesday morning. The Petaluma, CA-company now plans to offer 7.3 million shares at $6 to $7 after previously proposing a range of $10 to $12. At the downwardly revised midpoint, Enphase would raise $47 million in IPO proceeds, 41% less than previously anticipated. Enphase plans to list on the NASDAQ under the symbol ENPH. Morgan Stanley, BofA Merrill Lynch and Deutsche Bank Securities are the lead managers on the deal.
