General info on Clarios
About the company
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NameClarios International Inc.
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IndustryAutomotive, Energy, Energy Storage
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Employees5000 – 10,000
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Founding year2019
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TickerBTRY
Filing Information
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IPO file date2/07/2021
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No. of shares88,080,495
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Price$17 - $21
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ExchangeNew York Stock Exchange
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BookrunnersBank of America Securities, JPMorgan Chase
IPO Details
About Clarios
Initially, a subsidiary of Johnson Controls, Clarios became one of the world’s largest producers and suppliers of energy storage solutions. Clarios designs and manufactures advanced, low-voltage batteries that power cars to commercial vehicles, motorcycles, to industrial products.
In 2018, Brookfield Business Partners bought it, and in May 2019, it became a stand-alone business and a wholly owned subsidiary.
IPO figures
According to its S1 form submitted to the US Security and Exchange Commission, Clarios could be valued at $10.7 billion. The Milwaukee-based company offers 88,080,495 shares, with a price range of $17 - $21 apiece.
Clarios is looking to raise as much as $1.8 billion once it starts trading on the New York Stock Exchange under the symbol “BTRY.”
What is Clarios’ valuation?
Considering a full dilution of its shares, Clarios could be valued at $11.2 billion if the top price target is reached. According to its statement, Clarios has an enterprise valuation of $18 billion.
Clarios: what you need to know
- One-third of the cars in the world are using Clarios products
- It has several owned brands such as LTH, OPTIMA, Varta, Delkor and
- It is backed by one of the biggest Canadian state pension investors: Caisse de dépôt et placement du Québec (CDPQ)
Sources: crunchbase.com, sec.gov, stockanalysis.com
Summary
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TickerBTRY
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Price$17 - $21
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ExchangeNew York Stock Exchange
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BookrunnersBank of America Securities, JPMorgan Chase
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