SolarEdge Technologies, Inc. (NASDAQ:SEDG) (“SolarEdge”) today announced the pricing of 2,000,000 shares of its common stock at $295.00 per share (the “Common Stock”), for total gross proceeds of $590.0 million (before deduction for the underwriters’ discount and other offering expenses).
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the Common Stock offering and as the representatives of the underwriters. SolarEdge has granted the underwriters a 30-day option from the date of the prospectus supplement to purchase up to an additional 300,000 shares of its Common Stock upon the same terms as set forth in the underwriting agreement. The sale of the Common Stock to the underwriters is expected to settle on March 22, 2022, subject to customary closing conditions.
SolarEdge intends to use the net proceeds from the offering for general corporate purposes, which may include acquisitions. However, SolarEdge does not have agreements or commitments for any acquisitions at this time.