Shoals Technologies Group $375 million stock offering
Davis Polk advised the joint book-running managers and representatives of the underwriters in connection with the $375 million SEC-registered offering of 13,384,155 shares of common stock by Shoals Technologies Group, Inc. and certain selling stockholders. The common stock is listed on the Nasdaq Global Market under the symbol “SHLS.”
Shoals, headquartered in Portland, Tennessee, is a leading provider of electrical balance of system or “EBOS” solutions for solar energy projects in the United States. The company was founded to provide innovative EBOS solutions that reduce installation costs and improve reliability and safety. Shoals was the first company in the solar industry to successfully commercialize “plug-n-play” EBOS systems that use simple push connectors rather than the wire “crimps” used in conventional systems.
The Davis Polk capital markets team included partners Michael Kaplan and Roshni Banker Cariello, counsel John H. Runne and associate Chad Howard. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk deal team are based in the New York office.