Fluence Energy falls as controlling stockholders reduce stakes

AES

06/12/2023 12:51

** Fluence Energy's  FLNC.O  stock down 10.6% at $23.00
premarket after secondary offering launched
    ** Renewable energy storage provider late Tues announced 18
mln shares to be sold by controlling stockholders
    ** AES  AES.N  and Siemens  SIEGn.DE  selling ~7.1 mln
shares each, and Qatar Investment Authority offloading ~3.8 mln,
per SEC prospectus filing
    ** JP Morgan, Barclays and Morgan Stanley jt bookrunners for
offering
    ** Fluence had ~118.9 mln Class A shares and ~58.6 mln Class
B shares outstanding as of Sept 30
    ** FLNC shares last Weds jumped ~24% after co reported
surprise qtrly profit of 2 cents/sh and topline beat of $673 mln
    ** YTD, shares up 50% through Tues

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))