Clarios’ IPO plans are in the works after a planned public launch in 2021 was postponed. The company recently filed an amended prospectus with the SEC. So when can investors expect Clarios stock?
Clarios IPO: About the Company
Clarios is a world leader in advanced energy storage solutions. It develops, manufactures and distributes a wide range of battery technologies for virtually all types of vehicles. To meet global market demand for smarter applications, the company is partnering with aftermarket and original equipment manufacturers.
Clarios manufactures a wide range of battery products, from low voltage batteries to those for vehicles and industrial applications. Its brand portfolio includes Varta, LTH and Heliar.
The company produces starter, lighting and ignition (SLI) batteries. Additionally, Clarios’ portfolio includes advanced batteries, such as enhanced flooded batteries and absorbent glass mat batteries. In addition to conventional vehicles, its products are also used in hybrid and electric vehicles. The company supplies batteries to the aftermarket channel, usually through consumer replacements.
The global company states that it ranks first in the Americas and Europe, Middle East and Africa market. Moreover, it occupies the third position in Asia. The company serves more than 140 countries. In addition, Clarios equips one out of three cars in the world.
In addition, the company is sustainable. This represents a unique opportunity for the Clarios IPO in a world filled with a growing trend towards renewable energy. Thanks to its technologies, everyday life can be more reliable, safe and comfortable. Plus, it delivers next-gen durable performance. Clarios batteries are made of 99% recyclable or reusable materials.
In November 2018, Brookfield Business Partners bought Clarios when Johnson Controls spun off its power solutions business and sold it for $13.2 billion. The deal was financed with $3 billion in equity and $10.2 billion in long-term debt. So, where are his finances today?
Clarios Finances: an overview of the company’s financial situation
Detailed financial information can be found in the Clarios IPO prospectus which was made public in June 2022. If you are looking for BTRY shares, let’s take a look at the details.
Clarios highlights certain key information for investors in its amended prospectus. The company’s balance sheet and income statement data are as follows…
Net sales: The company is accelerating its turnover. Clarios recorded just over $7.6 billion in net sales for the year ending September 2020. For the year ending September 2021, Clarios recorded an increase in net sales to nearly 8, $9 billion.
Gross profit: The company recorded an increase in its gross margin. Clarios recorded gross profit of nearly $1.2 billion for the fiscal year ending September 2020. For the following year (2021), the company recorded gross profit of nearly $1.9 billion.
Net profit (net loss): Clarios net income shows reported losses. For the year ended September 2020, the company posted a net loss of $402 million. By the end of September 2021, the company’s net loss had fallen to $41 million.
Cash: Clarios’ treasury has taken a hit. The company recorded $682 million in cash in September 2020. As of September 2021, Clarios cash had fallen to $262 million.
long-term debt: Clarios’ long-term debt is significant. However, the company is working to reduce it. As of September 2020, the company had reported nearly $10.5 billion in long-term debt. In 2021, it fell to $9.6 billion.
The company originally filed for a 2021 Clarios IPO for a proposed fully diluted market capitalization of $10.7 billion. However, the plans fell through due to market volatility.
Clarios IPO suspended after initial public launch plans
According to previous IPO plans, the company expected to raise up to $1.8 billion by offering 88.1 million shares at between $17 and $21.
Based on outstanding shares listed in its Securities and Exchange Commission (SEC) filings, the IPO would have helped Clarios reach a market capitalization of $10.7 billion. However, Clarios’ IPO has been pushed back to July 2021, citing market conditions.
Bank of America and JP Morgan Chase were lead underwriters in the originally planned IPO. In its amended 2022 filing, Clarios withdrew 19 of its 20 underwriters, excluding BMO Capital Markets.
After pushing back the IPO, the company said it plans to “reassess market conditions in the coming months and will keep the market informed.” Additionally, while Clarios’ initial IPO plans fell through, the company is reviving its IPO plans.
So when will Clarios go public? Here’s when you can expect Clarios action…
When will Clarios go public?
The car battery maker is relaunching plans for its public debut nearly a year after announcing and then quickly postponing listing plans for its stock.
Filing a prospectus with the SEC in late June 2022, Clarios plans to offer shares of its common stock again. The IPO prospectus did not reveal the amount of money the company would raise or the price per share.
The prospectus disclosed plans to raise up to $100 million. However, this is likely a placeholder for a deal that could bring in $1-2 billion.
It plans to list on the New York Stock Exchange (NYSE) under the symbol BTRY. See this article on how to value a stock for more information on BTRY’s stock price.
BMO Capital Markets is the sole underwriter of the transaction.
Check back for the latest updates on the Clarios IPO. In the meantime, you may be able to buy Clarios stock before the company goes public by learning how to buy pre-IPO stock.
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Aimee Bohn is a graduate of the College of Business and Economics at Towson University. His background in marketing research helps him uncover interesting trends. Over the past year, she has primarily focused on researching IPOs and other trends.