IPO Journey
SOLV Energy, Inc.
IPO Date: May 29, 2026 · 6 filings tracked
Final Offer Terms
Ticker
MWH
Exchange
Nasdaq Global Select Market
Offer Price
$36.00
Shares Offered
15,000,000
Estimated Proceeds
$540.0M
Underwriters
Led by Jefferies, J.P. Morgan
KeyBanc Capital MarketsTD CowenUBS Investment BankBairdEvercore ISIGuggenheim SecuritiesWolfe | Nomura AllianceCIBC Capital MarketsRoth Capital PartnersAcademy Securities
Filing Timeline
1
S-1
January 16, 2026
- Second-largest solar contractor in the U.S. with over 500 power plants built since 2008.
- Strong revenue visibility supported by a $6.7 billion project backlog as of September 2025.
2
S-1/A
January 23, 2026
- Lead contractor for large-scale solar and battery infrastructure projects
- Dual-revenue model combining high-value construction milestones with recurring maintenance income
Changes from previous filing
- ▸ Ticker symbol removed
- ▸ Underwriters: Jefferies LLC, J.P. Morgan Securities LLC
3
S-1/A
January 30, 2026
- Second-largest solar contractor in the U.S. with over 20 gigawatts of capacity built.
- Strong recurring revenue stream through long-term maintenance and monitoring of solar assets.
Changes from previous filing
- ▸ Ticker symbol: MWH
- ▸ Exchange: Nasdaq Global Select Market
- ▸ Expected offer range: $22.0 – $25.0 per share
- ▸ Shares offered: 20,500,000
- ▸ Estimated proceeds: $451M
- ▸ Underwriters: Jefferies, J.P. Morgan, KeyBanc Capital Markets, TD Cowen, UBS Investment Bank, Baird, Evercore ISI, Guggenheim Securities, Wolfe | Nomura Alliance, CIBC Capital Markets, Roth Capital Partners, Academy Securities
4
424B4
Material Update
February 11, 2026
- Full-lifecycle partner for solar and battery projects, covering construction through 24/7 maintenance.
- Strong market position in the growing 'hybrid' solar-plus-battery storage sector.
Changes from previous filing
- ▸ Price range removed
- ▸ Final offer price: $25.0 per share
- ▸ Estimated proceeds: $512M
5
S-1
May 26, 2026
- Unique lifecycle model combining large-scale construction with long-term maintenance
- Proprietary 'Vitals' platform managing 22 gigawatts of power
Changes from previous filing
- ▸ Ticker symbol removed
424B4
Final Pricing
May 29, 2026
- Major market player with 11% of all U.S. utility-scale solar projects built over the last decade.
- Significant $8.2 billion project backlog providing strong visibility into future revenue.
Changes from previous filing
- ▸ Ticker symbol: MWH
- ▸ Exchange: Nasdaq Global Select Market
- ▸ Final offer price: $36.0 per share
- ▸ Shares offered: 15,000,000
- ▸ Estimated proceeds: $540M
- ▸ Underwriters: Jefferies, J.P. Morgan, KeyBanc Capital Markets, TD Cowen, UBS Investment Bank, Baird, Evercore ISI, Guggenheim Securities, Wolfe | Nomura Alliance, CIBC Capital Markets, Roth Capital Partners, Academy Securities
Disclaimer: AI-generated analysis for informational purposes only. Not financial advice. Always conduct your own research.