Nextracker, a single-axis photo voltaic tracker producer, has accomplished separation from former guardian firm Flex, fulfilling any remaining pursuits for Flex shareholders.
“We’re appreciative of our time with Flex, and are enthusiastic about our future as an impartial firm and the expansion prospects within the solar energy business,” mentioned Dan Shugar, Nextracker founder and CEO. “Photo voltaic includes the most important share of recent energy technology capability globally, and Nextracker is properly positioned to proceed driving utility-scale and distributed technology solar energy because the world transitions to renewable vitality.”
Nextracker publicly expressed curiosity in spinning off from Flex in February 2022 and filed for separation in October 2023. Beneath the beforehand disclosed phrases of the transactions, Flex shareholders acquired roughly 0.17 shares of Nextracker Class A standard inventory for each Flex odd share held as of the file date of December 29, 2023, with 74,432,619 shares of Nextracker Class A standard inventory issued to Flex shareholders within the combination. Flex shareholders will obtain money in lieu of any fractional shares.
After the separation, Flex not instantly or not directly holds any shares of Nextracker frequent inventory, or any securities convertible into or exchangeable for shares of Nextracker frequent inventory.
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