Deals
Oaktree-Backed Shoals Tops IPO Goals to Raise $1.9 billion
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Solar-power components maker Shoals Technologies Group Inc. and a selling shareholder raised $1.9 billion in an upsized initial public offering, pricing the shares above a marketed range.
The Portland, Tennessee-based company, along with an entity controlled by Oaktree Capital Management, sold 77 million shares for $25 each on Tuesday, according to a statement. Shoals had marketed 70 million shares for $22 to $23 apiece earlier.