Fluence Completes $998 Million IPO
Fluence Energy, Inc. (“Fluence” or the “Company”) (NYSE: FLNC) recently completed an initial public offering of 35,650,000 shares of Class A common stock, including the exercise in full of the underwriters’ option to purchase 4,650,000 additional shares, at a price of $28.00 per share, generating gross proceeds of $998.2 million. Fluence intends to use the net proceeds from the offering to repay debts and for general corporate purposes.
Baird served as a co-manager on this offering.
AboutFluence is a leading pure-play provider of energy storage technology globally, and their AI-enabled Fluence IQ platform helps customers maximize the value and performance of single assets or entire portfolios of clean energy assets. Although they were established in January 2018 as a joint venture between Siemens and AES, members of their board of directors and leadership team were part of the founding team at AES Energy Storage that conceived and tested the world’s first lithium-ion energy storage system on an electric grid starting in 2007. Fluence has built on AES’ industry-defining work in clean energy and storage operations and Siemens’ energy technology leadership and global sales presence. The result is an agile company with a global presence solely focused on enabling the clean energy transition. Fluence’s business is comprised of more than 350 employees and is headquartered in Arlington, Virginia.
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- November 2021
- Fluence Energy, Inc.
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- North America
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