Nextracker, a global manufacturer of solar trackers and related software solutions, announced that it is separating from parent company Flex.
Nextracker expects to file a registration statement with the U.S. Securities and Exchange Commission to initiate the process of separating from Flex, which is expected to close by March 31, 2024. A number of conditions must be met before Nextracker can split from its current owner, and it isn’t guaranteed that spin-off will occur.
“We are grateful for our time within Flex, as Flex helped us considerably in maturing our business processes and supporting our expansion into emerging markets, especially in our early years as a young company,” said Dan Shugar, Nextracker founder and CEO. “We are energized to start our next chapter.”
News item from Nextracker