Energy storage company Fluence plans an IPO

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Energy storage provider Fluence filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its Class A common stock.

Fluence Energy, Inc. applied to list its Class A common stock on the Nasdaq Global Select Market under the symbol “FLNC.” The number of shares to be offered and the price range for the proposed offering have not yet been determined.

The company is jointly owned by Siemens and AES and has more than 3.4 GW of energy storage deployed or contracted in 29 markets globally.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Barclays Capital Inc., and BofA Securities will act as lead book-running managers for the proposed offering. Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, UBS Securities, LLC, Evercore Group L.L.C., HSBC Securities (USA) Inc., and RBC Capital Markets, LLC will act as joint book-running managers. Nomura Securities International, Inc., Robert W. Baird & Co. Incorporated, Raymond James & Associates, Inc., Seaport Global Securities LLC, Penserra Securities LLC, and Siebert Williams Shank & Co., LLC will act as co-managers.

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