Happy solstice: Solyndra files for IPO, could become next CIGS pure-play to go public (corrected)
CIGS could soon have a new name and face on Wall Street–Solyndra. While much of the business community was sipping egg nog and eating Christmas cookies at office parties or buying armloads of presents on the final Friday before the coming holiday, Solyndra filed an S-1 registration statement for an initial public offering with the Securities and Exchange Commission. The purveyor of cylindrical copper-indium-gallium-(di)selenide thin-film photovoltaics will trade under the symbol “SOLY,” according to SEC documents, with Goldman Sachs and Morgan Stanley running the book on the proposed offering, joining Ascent Solar as the only publically traded CIGS pure-play companies. CEO Chris Gronet and his team have come a long way in a short time since emerging from stealth mode with a splash a little more than a year ago, and the prospectus filed as part of the S-1 provides a new level of granularity about the progress and plans of the company.