California — SolarEdge announced the closing of its previously-announced underwritten public offering of 2,300,000 shares of its common stock at $295.00 per share.
This comes to total gross proceeds of $678.5 million; before deduction for the underwriters’ discount and other offering expenses.
SolarEdge says the number includes 300,000 shares sold to the underwriters upon exercise of their option to purchase additional shares.
The company says Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC acted as joint book-running managers for the Common Stock offering.
Adding that it intends to use the net proceeds from the offering for general corporate purposes, which may include acquisitions; but does not currently have agreements or commitments for any such acquisitions.