FTC Solar Announces Individual Waiver of Certain Lockup Restriction
August 06 2021 - 5:15PM
FTC Solar, Inc. (Nasdaq: FTCI), a fast-growing global provider of
solar tracker systems, software and engineering services, today
announced that a large shareholder and director of the Company has
received a limited waiver from the representatives of the Company’s
underwriters under a Lock-Up Letter Agreement that was entered into
in connection with the Company’s initial public offering. The
waiver is to permit such shareholder to pledge common stock in the
Company as collateral for a margin loan, and does not otherwise
permit such shareholder to sell common stock prior to the end of
the lockup period. The waiver will take effect on August 10, 2021
and the shares of common stock may be pledged on or after such
date.
This press release is not an offer for sale of the securities in
the United States or in any other jurisdiction where such offer is
prohibited, and such securities may not be offered or sold in the
United States absent registration or an exemption from registration
under the United States Securities Act of 1933, as amended.
About FTC Solar Inc.Founded in 2017 by a group
of renewable energy industry veterans, FTC Solar is a fast-growing,
global provider of solar tracker systems, technology, software, and
engineering services. Solar trackers significantly increase energy
production at solar power installations by dynamically optimizing
solar panel orientation to the sun. FTC Solar’s innovative tracker
designs provide compelling performance and reliability, with an
industry-leading installation cost-per-watt
advantage. Source: FTC Solar, Inc.Category: Financial
News
FTC Solar Investor Contact:Bill
Michalek Vice President, Investor Relations FTC SolarT:
(737) 241-8618 E: IR@FTCSolar.com
FTC Solar Media Contact:Scott DeitzOn behalf of
FTC SolarT: (336) 908-7759
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