We advised Nextracker on the SEC-registered secondary offering

Davis Polk acted as special counsel to Nextracker Inc. in connection with its underwritten offering of 18,150,000 shares of Class A common stock offered by Nextracker and certain Nextracker stockholders for approximately $662.5 million in total gross proceeds, including the full exercise of the underwriters’ option to purchase additional shares of Class A common stock. Nextracker will use all of the net proceeds it receives from the offering to purchase 15,631,562 common units of Nextracker LLC from Yuma, Inc., an indirect wholly owned subsidiary of Flex Ltd., and TPG Rise Flash, L.P., an affiliate of the global alternative asset management firm TPG. Nextracker will not retain any proceeds from the offering. The shares of Class A common stock are listed on the Nasdaq Global Select Market under the symbol “NXT.” 

Nextracker is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects around the world.

The Davis Polk corporate team included partner Emily Roberts, counsel Jeffrey Gould and associates Alex DeGroat and Brendon S. Brown. Counsel Leslie J. Altus and associate Albert Park provided tax advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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