SolarEdge Files for $125 Million Nasdaq IPO

SolarEdge Technologies Inc., a maker of power optimizers for photovoltaic systems, filed for a $125 million initial public offering on the Nasdaq.

Goldman Sachs Group Inc. and Deutsche Bank AG are leading the underwriting, according to a filing Wednesday with the U.S. Securities and Exchange Commission. The $125 million is a placeholder amount that may change. The company intends to use the ticker SEDG.

Since its first commercial shipments in 2010, the the Hod Hasharon, Israel-based company has deployed about 1.2 gigawatts of inverter systems for solar projects in 73 countries, according to the filing. Customers include SolarCity Corp., SunRun Inc. and Vivint Solar Inc., three of the largest residential solar companies in the U.S.

Plans for the offering were reported in September. SolarEdge, founded in 2006, raised $37 million in 2011 in a round led by Norwest Venture Partners.

Copyright 2015 Bloomberg

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