Nextracker raises $638 million in year’s largest IPO

(Axios) Why it matters: This is the largest U.S. IPO since Mobileye went public last October, and the largest solar energy IPO in more than two years. It also comes on the same week that three other companies are planning to raise at least $150 million in IPOs of their own, suggesting something of a market thaw.

What it does, per Axios Pro’s Megan Hernbroth: Nextracker sells solar trackers and licenses its energy management software to a set of solar project developers and engineering firms that construct grid-scale solar projects.

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