Australian cleantech SolarJuice (SJA), a spinout of SPI Energy (NASDAQ:SPI), has proposed terms for a downsized $20M US preliminary public providing.

SolarJuice stated in a submitting that it was contemplating providing 2.5M strange shares priced between $7 and $9, which might increase round $20M if priced on the midpoint. After the providing, SPI will nonetheless management a majority of the voting energy in SolarJuice.

Underwriters can be granted a 45-day possibility to purchase as much as 375K extra shares. Maxim Group is serving as lead bookrunner. The firm hopes to record its shares below the image SJA.

The firm has been working within the purple. For the six-month interval ended June 30, SolarJuice reported a web lack of $586K on web gross sales of $82M. Solar Juice first filed for a US IPO in September, indicating that it was trying to increase as much as $40M.

Based in Australia, SolarJuice is a supplier of photo voltaic vitality options for small business and residential buildings, together with photovoltaic modules, inverters, roofing programs, batteries and storage gadgets. Its core markets are the US and Australia.

SolarJuice is a part of a rising record of cleantech firms in search of US listings. Israeli cleantech Enlight Renewable Energy (ENLT) (OTCPK:ENLTF) filed for a $100M IPO on Friday whereas Flex (FLEX) photo voltaic vitality spinout Nextracker (NXT) filed for a $100M IPO final week.