Announcements
Sidley Represents Flex in Its Spinoff of Nextracker
January 2, 2024
Sidley represented Flex Ltd. (Nasdaq: FLEX), an American multinational manufacturing company domiciled in Singapore, in its spinoff of its remaining interests in Nextracker Inc. (Nasdaq: NXT) to Flex shareholders on a pro rata basis. Nextracker is a Fremont, California-based solar technology company.
The Sidley team was led by Daniel Belke, Sharon Flanagan, Sam Gandhi, and Helen Theung (M&A and Capital Markets), and also included Sandi Knox, Ellen Hunter, Alex Enion, Hannah M. Brown, and Taylor N. Todd (M&A); Sonia Gupta Barros, Adam M. Gross, Sara M. von Althann, and Hana Lee (Capital Markets); Eric M. Winwood, Marian Fielding, Richard Schneider III, and Akshay Soman (Employee Benefits and Executive Compensation); Suresh T. Advani, John T. Schaff, Tyler J. Replogle, and Ryan L. Schroeder (Tax); and E. Kyle Barnett (Technology and Life Sciences Transactions).
Sidley also represented Flex Ltd. and Nextracker in the US$662.5 million combined primary (synthetic secondary) and secondary underwritten public offering of Nextracker’s Class A common stock by Nextracker and certain selling stockholders in June 2023; in Nextracker’s US$734.2 million initial public offering in February 2023; and in Flex’s sale of US$500 million of convertible preferred equity in Nextracker to TPG Rise Climate in February 2022.
The Sidley team was led by Daniel Belke, Sharon Flanagan, Sam Gandhi, and Helen Theung (M&A and Capital Markets), and also included Sandi Knox, Ellen Hunter, Alex Enion, Hannah M. Brown, and Taylor N. Todd (M&A); Sonia Gupta Barros, Adam M. Gross, Sara M. von Althann, and Hana Lee (Capital Markets); Eric M. Winwood, Marian Fielding, Richard Schneider III, and Akshay Soman (Employee Benefits and Executive Compensation); Suresh T. Advani, John T. Schaff, Tyler J. Replogle, and Ryan L. Schroeder (Tax); and E. Kyle Barnett (Technology and Life Sciences Transactions).
Sidley also represented Flex Ltd. and Nextracker in the US$662.5 million combined primary (synthetic secondary) and secondary underwritten public offering of Nextracker’s Class A common stock by Nextracker and certain selling stockholders in June 2023; in Nextracker’s US$734.2 million initial public offering in February 2023; and in Flex’s sale of US$500 million of convertible preferred equity in Nextracker to TPG Rise Climate in February 2022.
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*Only admitted to practice in New York. Not admitted to practice in England and Wales.
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