Shoals launches 13.4M share secondary offering; prelim Q2 rev $58.8-60.3M, net income $8-10M

Shoals Technologies Group, Inc.

Offering of 13,384,155 Class A shares; company offers 8.39M shares, selling stockholders 4.99M shares.
Prelim Q2 2021 revenue $58.8-60.3M (+37% YoY); net income $8-10M (+72% YoY).
Prelim adjusted EBITDA $19.9-21.0M (+33% YoY); cash $13.2M, debt $247.3M as of June 30, 2021.
Backlog and awarded orders $200.5M (+63% YoY, +11% vs Q1 2021).
Proceeds to buy equity interests from existing holders; underwriters have 30-day option for 2,007,623 additional shares.

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