The Zhitong Finance App learned that solar equipment and service provider SolarJuice reduced its initial public offering (IPO) funding scale on Monday. The company currently plans to issue 3 million shares at a price of 5-6 US dollars each to raise 17 million US dollars. The company had previously applied to issue 2.5 million shares at a price of $7-9 per share. The adjusted funding scale was 18 per cent lower than the previous plan. The company plans to be listed on the NASDAQ under the stock code “SJA.”

According to the data, SolarJuice was spun off from Sunpower (SPI.US), which provides solar photovoltaic energy solutions for the residential and small commercial building markets in Australia and the US. The company sells solar photovoltaic panels, solar inverters, electric vehicle chargers, and related components. The company's revenue for the 12 months ending June 30, 2022 was $159 million.