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Enphase Energy Prices IPO At $6/share, At Low End Of Revised Range

Enphase Energy, a provider of microinverter solutions for the solar industry, announced the pricing of its initial public offering of 8.97 million shares of common stock at $6.00 per share, at the low end of the revised range of $6 to $7.

In an amended regulatory filing with the U.S. Securities and Exchange Commission on March 28, the company brought down its price range to $6 and $7 per share from its earlier range of $10 to $12 per share. The company had originally filed to offer 7.3 million shares.

The Petaluma, California-based company plans to list on the NASDAQ under the symbol ENPH.

Morgan Stanley, BofA Merrill Lynch and Deutsche Bank Securities acted as lead managers on the deal.

by RTTNews Staff Writer

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