The IPO Buzz: Software and Solar Rule A Big Week

Software and solar tech companies are in play this week. Qualtrics International (XM proposed), an experience management software provider owned by SAP, and Shoals Technologies Group (SHLS proposed), an Oaktree Capital-backed maker of components for ground-mounted solar energy projects, are the ones to watch. The IPO pros are circling these two deals as the best of the week on an IPO Calendar with 18 names on tap, including 10 SPACs. Bankers expect to raise about $7.9 billion.

Both Qualtrics and Shoals upsized their IPOs in SEC filings early today:

*Qualtrics enlarged its IPO by 19.5 percent early today by increasing both the number of shares – to 50.4 million, up from 49.2 million initially – and the price range – to $27 to $29, up from $22 to $26 – to raise an estimated $1.41 billion, up from $1.18 billion. (Source: S-1/A filing dated Jan. 25, 2021).

*Shoals Technologies increased its IPO by 57.5 percent early today by increasing both the number of shares – to 70.0 million, up from 50.0 million initially – and the price range – to $22 to $23, up from $19 to $21 – to raise an estimated $1.58 billion, up from $1.0 billion. (Source: S-1/A filing dated Jan. 25, 2021)

Qualtrics is a SaaS provider that says it pioneered the category of experience management software. This type of software is designed to close the experience gap by improving the experience that customers, employees and  prospects have with a company and its brands. (SaaS is an acronym for software-as-a-service.) Qualtrics is expected to price its IPO on Wednesday night for Thursday trading.

Shoals Technologies Group makes electrical balance of systems (EBOS) components for ground-mounted solar energy projects. The company is also developing products for electric vehicle (EV) charging infrastructure. Both the solar energy and the EV industries are expected to flourish under the new Biden administration, the IPO pros say. BlackRock and ClearBridge Investments have indicated interest in buying stock in the IPO, according to the prospectus. Shoals Technologies Group is expected to price its IPO on Tuesday night for Wednesday trading.

For an overview of the IPOs scheduled for pricing so far this week, please click on the link to IPO Calendar: IPO Calendar | IPOScoop

(For more information about these companies, please click the hyperlinks, which will take you to the IPO profiles on IPOScoop.com.)

(Never trade on proposed symbols. You might wind up owning something on the OTC Bulletin Board.)

Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.

Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums), is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.