ATS finally files preliminary prospectus for solar IPO
Many of the specifics (share price and quantity issued) aren’t yet known, but ATS Automation has finally filed its preliminary prospective with the Securities and Exchange Commission. The company plans to raise $250 million (U.S.) by having an IPO of its Photowatt Technologies division, which would include France-based Photowatt (maker of conventional solar PV panels) and Cambridge, Ontario-based startup Spheral Solar (its next-gen technology based on silicon beads). ATS issued a press release today to acknowledge the filing.
So far, the market seems to like it. By noon the stock was up by more than 12 per cent.
Tyler Hamilton is editor-in-chief of Corporate Knights magazine and a business columnist for the Toronto Star, Canada's largest daily newspaper. In addition to this Clean Break blog, Tyler writes a weekly column of the same name that discusses trends, happenings and innovators in the clean technology and green energy market. This blog is a personal project started in April 2005. It is not an official blog of the newspaper.
