FTC Solar
| General Information | |
| Business: | We are a global provider of advanced two-panel solar tracker systems, supported by proprietary software and value-added engineering services – currently marketed under the Voyager brand. Our mission is to provide differentiated products, software and services that maximize energy generation and cost savings for our customers, and to help facilitate the continued growth and adoption of solar power globally. Trackers significantly increase the amount of solar energy produced at a solar installation by moving solar panels throughout the day to maintain an optimal orientation relative to the sun. The combination of integrated hardware tracking technology and advanced software algorithms in solar tracker systems yields, on average, 25% more energy and delivers a 17% lower levelized cost of energy compared to fixed-tilt mounting systems, according to 2020 BNEF reports. Our customers include leading project developers, solar asset owners and engineering, procurement and construction (“EPC”) contractors that design and build solar energy projects. Our estimated U.S. tracker market share is approximately 11%.
(Note: FTC Solar priced its IPO on April 27, 2021, at $13 – well below its $18-to-$20 range – on 19.84 million shares, up from 18.4 million shares, to raise $257.92 million – far less than its estimated volume of $349.98 million, based on mid-point pricing.)
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| Industry: | Semiconductors & Related Devices |
| Employees: | 178 |
| Founded: | 2017 |
| Contact Information | |
| Address | 9020 N Capital of Texas Hwy, Suite I-260, Austin, Texas 78759 |
| Phone Number | (737) 787-7906 |
| Web Address | https://ftcsolar.com/ |
| View Prospectus: | FTC Solar |
| Financial Information | |
| Market Cap | $1561.04mil |
| Revenues | $187.35 mil (last 12 months) |
| Net Income | $-15.92 mil (last 12 months) |
| IPO Profile | |
| Symbol | FTCI |
| Exchange | NASDAQ |
| Shares (millions): | 19.8 |
| Price range | $13.00 - $13.00 |
| Est. $ Volume | $257.9 mil |
| Manager / Joint Managers | Barclays/ BofA Securities/ Credit Suisse/ UBS Investment Bank/ HSBC |
| CO-Managers | Cowen and Company/ Simmons Energy/ Raymond James/ Roth Capital Partners |
| Expected To Trade: | 4/28/2021 |
| Status: | Priced |
| Quiet Period Expiration Date: | Available only to Subscribers |
| Lock-Up Period Expiration Date: | Available only to Subscribers |
| SCOOP Rating | Available only to Subscribers |
| Rating Change | Available only to Subscribers |