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SPI Energy (NASDAQ:SPI) spinout SolarJuice (SJA), a marketer of solar energy solutions, has filed for a proposed $40M initial public offering in the US.

In a filing, Solar Juice didn’t state how many shares would be offered or the pricing, but indicated in a filing fee schedule that it was looking to raise up to $40M.

SolarJuice hopes to list its shares on Nasdaq. Maxim Group is serving as lead bookrunner. After the offering, SPI will still control a majority of the voting power in SolarJuice.

Based in Australia and incorporated in the Cayman Islands, SolarJuice is a wholesaler and distributor of solar energy solutions for small commercial and residential buildings, including photovoltaic modules, inverters, roofing, batteries and storage devices. The company’s primary markets are the US and Australia.

For 2021, SolarJuice reported a net loss of $23M on sales of $153M.

Earlier this month, SolarJuice’s Australian unit announced a cooperation agreement with EV charging solutions provider Wallbox.

Image and article originally from Read the original article here.

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