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8-K

FTC Solar, Inc. (FTCI)

8-K 2023-02-09 For: 2023-02-09
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UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 09, 2023

FTC Solar, Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware 001-40350 81-4816270
(State or Other Jurisdiction<br>of Incorporation) (Commission File Number) (IRS Employer<br>Identification No.)
9020 N Capital of Texas Hwy, Suite I-260
Austin, Texas 78759
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, Including Area Code: 737 787-7906
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(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading<br>Symbol(s) Name of each exchange on which registered
Common Stock, $0.0001 par value FTCI The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On February 9, 2023, FTC Solar, Inc. issued a press release to announce a joint venture agreement with Taihua New Energy (Thailand) Co., LTD, a leading steel fabricator, for the creation of Alpha Steel LLC (“Alpha Steel”), a manufacturing partnership dedicated to producing steel components, including torque tubes, for utility-scale solar projects. The Alpha Steel facility, which will be located outside of Houston in Sealy, Texas, is expected to begin commercial production in mid-2023. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description
99.1 Press release, dated February 9, 2023.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FTC SOLAR, INC.
Date: February 9, 2023 By: /s/ Phelps Morris
Phelps Morris<br>Chief Financial Officer

EX-99.1

EXHIBIT 99.1

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FTC Solar Announces Solar Tracker Manufacturing Joint Venture

Sealy, Texas facility will bolster domestic supply chain

AUSTIN, Texas — February 9, 2023 – FTC Solar, Inc. (Nasdaq: FTCI), a leading global provider of solar tracker systems, software, and engineering services, and Taihua New Energy (Thailand) Co., LTD (“Taihua New Energy”), a leading steel fabricator, today announced a joint venture agreement for the creation of Alpha Steel LLC (“Alpha Steel”), a manufacturing partnership dedicated to producing steel components, including torque tubes, for utility-scale solar projects.

“This agreement will further enhance our domestic supply chain, and our ability to support our customers and the growth of the U.S. solar market, with domestic manufacturing utilizing U.S. steel,” said Sean Hunkler, Chief Executive Officer of FTC Solar. “We’re pleased to announce an expanded relationship with Taihua New Energy, an existing partner, and a top global fabricator as we grow our presence in Texas.”

“This new production line will include state-of-the-art equipment to help FTC quickly deploy its differentiated technology to customers,” commented Kailiang Ji, CEO of Taihua New Energy, who has been named the General Manager of Alpha Steel. “We’re proud to continue to support the growth of clean energy in the United States and expand our relationship with FTC Solar.”

The Alpha Steel facility, located outside of Houston in Sealy, Texas, is expected to begin commercial production in mid-2023.

About FTC Solar Inc.

Founded in 2017 by a group of renewable energy industry veterans, FTC Solar is a leading provider of solar tracker systems, technology, software, and engineering services. Solar trackers significantly increase energy production at solar power installations by dynamically optimizing solar panel orientation to the sun. FTC Solar’s innovative tracker designs provide compelling performance and reliability, with an industry-leading installation cost-per-watt advantage.

FTC Solar Investor Contact:

Bill Michalek Vice President, Investor Relations FTC Solar T: (737) 241-8618 E: IR@FTCSolar.com

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