Shoals Technologies Group is planning an initial public offering (IPO) of 50 million shares of its Class A common stock.

The Tennessee-based company, whose balance-of-systems (BOS) solutions are deployed on over 20 GW of solar energy systems globally, has launched a presentation roadshow for potential investors.

In an announcement, Shoals explained it will be offering 10.5 million shares, while a parent entity controlled by funds managed by Oaktree Capital Management LP will offer 39.5 million of the shares. The parent entity also intends to grant the underwriters a 30-day option to purchase up to an additional 7.5 million shares.

According to Shoals, the IPO price is expected to be between $19.00 and $21.00 per share. The company intends to list its Class A common stock on the Nasdaq Global Market under the symbol “SHLS.”

Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint book-running managers and representatives of the underwriters for the offering. Guggenheim Securities and UBS Investment Bank are also acting as joint book-running managers, and Morgan Stanley, Barclays, and Credit Suisse are acting as book-runners. Cowen and Oppenheimer & Co. Inc. are acting as co-managers.

During an interview with pv magazine in late 2020, Shoals Founder and CEO Dean Solon highlighted the company’s achievements and the solar industry’s strong performance, saying “the short version is that it’s been a damned good year.”

Shoals joins a growing list of solar product providers going public, including the IPO of tracker builder Array Technologies last year.

The full Shoals IPO announcement is available here.