PORTLAND, Tenn., Jan. 19, 2021 (GLOBE NEWSWIRE) — Shoals Technologies Group, Inc. (the “Company”) today announced that it has launched the roadshow for the initial public offering of its Class A common stock. The Company is offering 10,500,000 shares of its Class A common stock. A parent entity of the Company controlled by funds managed by Oaktree Capital Management, L.P. (the “Selling Stockholder”) is offering 39,500,000 shares of the Company’s Class A common stock and intends to grant the underwriters a 30-day option to purchase up to an additional 7,500,000 shares. The initial public offering price is expected to be between $19.00 and $21.00 per share. The Company intends to list its Class A common stock on the Nasdaq Global Market under the symbol “SHLS.”

The Company intends to use the net proceeds from this offering to purchase equity interests from its operating subsidiary and certain existing stockholders and for general corporate purposes to support the growth of the business. The Company will not receive any proceeds from the sale of its Class A common stock by the Selling Stockholder.

The operating subsidiary intends to use the net proceeds it receives from the sale of equity interests to the Company to prepay outstanding borrowings under its new senior secured credit facility. The operating subsidiary will bear or reimburse the Company for all of the expenses of the initial public offering.

Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint book-running managers and representatives of the underwriters for the offering. Guggenheim Securities and UBS Investment Bank are also acting as joint book-running managers and Morgan Stanley, Barclays and Credit Suisse are acting as book-runners. Cowen and Oppenheimer & Co. Inc. are acting as co-managers.

The offering will be made only by means of a prospectus, which will be filed with the SEC and available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus relating to this offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282 (telephone: (866) 471-2526 or email: [email protected]); J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (telephone: 1-866-803-9204), or by email at [email protected]; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison, 8th Floor, New York, NY 10017, by telephone at (212) 518-9658, or by email at [email protected]; and UBS Securities LLC; Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at (888) 827-7275 or by email at [email protected].

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About Shoals Technologies Group, Inc.

Shoals Technologies Group, Inc. is a leading provider of electrical balance of systems (“EBOS”) solutions for solar, storage, and electric vehicle charging infrastructure. Since its founding in 1996, the Company has introduced innovative technologies and systems solutions that allow its customers to substantially increase installation efficiency and safety while improving system performance and reliability. Shoals Technologies Group, Inc. is a recognized leader in the renewable energy industry whose solutions are deployed on over 20 GW of solar systems globally.

Forward Looking Statements

This press release contains forward looking statements, including statements regarding the initial public offering. These statements are not historical facts but rather are based on the Company’s current expectations and projections regarding its business, operations and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual results may differ materially from those in the forward looking statements as a result of a number of factors, including those in the Company’s registration statement filed with the Securities and Exchange Commission.


Email: [email protected]

Email: [email protected]

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