Nextracker launches IPO roadshow at $20-$23/share; prelim nine-month revenue $1.38B (+36% YoY)

FLEX LTD.

Nextracker expects nine-month revenue $1,383M vs $1,018M prior year; gross profit $196M vs $108M.
Nextracker expects nine-month net income $98M (7% margin) vs $45M (4.4% margin); Adjusted EBITDA $136M (9.8% margin).
Nextracker files to sell 23.3M shares in IPO at $20-$23; underwriters have 30-day option for 3.5M additional shares.
Nextracker expects cash $100M and firm orders of $2.1B as of Dec 31, 2022.
Flex (FLEX) subsidiary Nextracker intends to list on Nasdaq under ticker NXT.

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