SAN
JOSE, Calif., Feb. 8, 2023
/PRNewswire/ -- Flex Ltd. (NASDAQ: FLEX) announced today that its
subsidiary, Nextracker Inc. ("Nextracker"), priced its upsized
initial public offering of 26,600,000 shares of its Class A common
stock ("Common Stock") at an initial public offering price of
$24.00 per share. The Common Stock is
expected to begin trading on the Nasdaq Global Select Market under
the ticker symbol "NXT" on February 9,
2023 and the offering is expected to close on February 13, 2023, subject to customary closing
conditions. In addition, Nextracker has granted the underwriters a
30-day option to purchase up to an additional 3,990,000 shares of
Common Stock at the initial public offering price, less
underwriting discounts and commissions.
J.P. Morgan, BofA Securities, Citigroup, and Barclays are acting
as joint lead book-running managers for the offering. Truist
Securities, HSBC, BNP PARIBAS, Mizuho, Scotiabank, and KeyBanc
Capital Markets are acting as joint book-running managers for the
offering. SMBC Nikko, BTIG, UniCredit, Roth Capital Partners, and
Craig-Hallum will act as co-managers for the offering. PJT Partners
is serving as independent financial advisor to Flex Ltd. in the
offering.
The offering will be made only by means of a prospectus. Copies
of the prospectus, when available, may be obtained from: the U.S.
Securities Exchange Commission (the "SEC") at www.sec.gov; and J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY
11717, by telephone at (866) 803-9204 or by email at
prospectus-eq_fi@jpmchase.com; BofA Securities, NC1-004-03-43, 200
North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus
Department, by email at dg.prospectus_requests@bofa.com; Citigroup,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, by telephone
at (800) 831-9146; and Barclays Capital Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (888)
603-5847, or by email at
barclaysprospectus@broadridge.com.
A registration statement relating to these securities has been
filed with, and declared effective by, the SEC on February 8, 2023. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
any securities, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. Any offers,
solicitations or offers to buy, or any sales of securities will be
made in accordance with the registration requirements of the
Securities Act of 1933, as amended.
About Flex
Flex (Reg. No. 199002645H) is the manufacturing partner of
choice that helps a diverse customer base design and build products
that improve the world. Through the collective strength of a global
workforce across 30 countries and responsible, sustainable
operations, Flex delivers technology innovation, supply chain, and
manufacturing solutions to diverse industries and end markets.
About Nextracker
Nextracker is the leading provider of intelligent, integrated
solar tracker and software solutions used in utility-scale and
distributed generation solar power plants around the world. Our
products enable solar panels in utility-scale power plants to
follow the sun's movement across the sky and optimize plant
performance.
Flex Contacts
Investors & Analysts
David A. Rubin
Vice President, Investor Relations
David.Rubin@flex.com
Media & Press
Mark Plungy
Director, Corporate Public Relations
Mark.Plungy@flex.com
Nextracker Contacts
Investors & Analysts
Don Quinby
Director, Finance
DQuinby@nextracker.com
Media & Press
Kristan Kirsh
Vice President, Global Marketing
KKirsh@nextracker.com
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SOURCE Flex