Alternative Energy - Wednesday, July 9, 2008
GT Solar Prices IPO To Raise $610M
At a time when venture investors are suffering through a dearth of liquidity, it is mouth-watering to see one startup get close to an IPO. T he solar manufacturing equipment maker GT Solar plans to offer 30.3M shares at $15.50 - $17.50 per share.
Merrimack, NH-based GT Solar International expects to raise $609.8M in the share sale.The company expects to trade on the Nasdaq under the symbol "SOLR." Tthe company said it will not receive any cash from the offering, rather shareholders will enjoy the event.
GT Solar is controlled by PE firm GFI Energy Ventures and Oaktree Capital Management.
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