Fluence declares initial public offering closing involving 35,650,000 shares of Class A common stock

KUALA LUMPUR, Nov 3 -- Fluence Energy Inc, a leading global provider of energy storage products and services and digital applications for renewables and storage, has announced the closing of its initial public offering of 35,650,000 shares of its Class A common stock.

According to a statement, this includes the exercise in full of the underwriters’ option to purchase additional shares of its Class A common stock, at an initial public offering price of US$28.00 per share. (US$1 = RM4.150)

Proceeds from the initial public offering were US$998.2 million, before deducting underwriting discounts and commissions and other offering expenses. The shares began trading on the Nasdaq Global Select Market on Sept 28, under the ticker symbol ‘FLNC’.

J.P. Morgan Securities LLC, Morgan Stanley, Barclays Capital Inc, and BofA Securities are acting as joint lead book-running managers for the offering.

Citigroup Global Markets Inc, Credit Suisse Securities (USA) LLC, UBS Securities, LLC, Evercore Group L.L.C., HSBC Securities (USA) Inc, and RBC Capital Markets, LLC are acting as joint book-running managers for the offering.

Nomura Securities International, Inc, Robert W. Baird & Co. Incorporated, Raymond James & Associates, Inc, Seaport Global Securities LLC, Penserra Securities LLC, and Siebert Williams Shank & Co, LLC are acting as co-managers for the offering.

The offering is being made only by means of a prospectus.

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on Oct 27.

-- BERNAMA