0000950123-21-012621.txt : 20230309 0000950123-21-012621.hdr.sgml : 20230309 20210924210655 ACCESSION NUMBER: 0000950123-21-012621 CONFORMED SUBMISSION TYPE: DRSLTR PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20210924 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Nextracker Inc. CENTRAL INDEX KEY: 0001852131 STANDARD INDUSTRIAL CLASSIFICATION: SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS [3812] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: DRSLTR BUSINESS ADDRESS: STREET 1: 6200 PASEO PADRE PARKWAY CITY: FREMONT STATE: CA ZIP: 94555 BUSINESS PHONE: 510-270-2500 MAIL ADDRESS: STREET 1: 6200 PASEO PADRE PARKWAY CITY: FREMONT STATE: CA ZIP: 94555 FORMER COMPANY: FORMER CONFORMED NAME: Nextracker LLC DATE OF NAME CHANGE: 20220215 FORMER COMPANY: FORMER CONFORMED NAME: Nextracker Inc. DATE OF NAME CHANGE: 20210318 DRSLTR 1 filename1.htm DRSLTR

Confidential Treatment Requested by Nextracker Inc.

Pursuant to 17 C.F.R. Section 200.83

 

LOGO

 

SIDLEY AUSTIN LLP

787 SEVENTH AVENUE

NEW YORK, NY 10019

+1 212 839 5300

+1 212 839 5599 FAX

 

AMERICA • ASIA PACIFIC • EUROPE

   

September 24, 2021

Via EDGAR and Federal Express

Sergio Chinos, Esquire

United States Securities and Exchange Commission

Division of Corporation Finance

Office of Manufacturing

100 F Street, N.E.

Washington, D.C. 20549

 

  Re:

Nextracker Inc.

      

Amendment No. 3 to Draft Registration Statement on Form S-1

      

Submitted July 30, 2021

      

CIK No. 0001852131

Ladies and Gentlemen:

On behalf of Nextracker Inc. (the “Registrant”), we hereby confidentially submit amendment no. 4 (“Amendment No. 4”) to the Registrant’s draft Registration Statement on Form S-1. Amendment No. 4 has been marked to show all changes made to amendment no. 3 (“Amendment No. 3”) to the Registrant’s draft Registration Statement.

Set forth below are the Registrant’s responses to the comments of the Staff of the Commission (the “Staff”) on Amendment No. 3, as set forth in the Staff’s letter dated August 10, 2021. The responses follow each comment and, where applicable, include page references to Amendment No. 4 indicating where disclosure has been added in response to the Staff’s comment.

DRS/A submitted July 30, 2021

Combined Financial Statements, General, page F-1

 

1.

Please consider the financial statement updating requirements of Rule 3-12 of Regulation S-X in subsequent amendments.

Response: The Registrant acknowledges the Staff’s comment and has updated the financial statements included in Amendment No. 4 in accordance with the requirements of Rule 3-12 of Regulation S-X.

 

Confidential Treatment Requested by Nextracker Inc.

Pursuant to 17 C.F.R. Section 200.83

 

LOGO

Sergio Chinos, Esquire

United States Securities and Exchange Commission

September 24, 2021

Page 2

 

Summary of accounting policies, Revenue recognition, page F-11

 

2.

Based on your response to prior comment five, please more fully explain to us how you determined that the amounts of customer holdbacks at each balance sheet date are appropriately recorded as receivables based on the provisions of ASC 606-10-45-1, 45-3 and 45-4.

Response: The Registrant has revised the disclosure on page F-27 and F-29 of Amendment No. 4 to clarify that unbilled receivables are contract assets and are presented as part of accounts receivable, net of allowance for doubtful accounts.

*            *             *

Please do not hesitate to contact the undersigned at (212) 839-5684 with any questions you may have regarding this confidential submission.

 

Very truly yours,

/s/ Samir A. Gandhi

Samir A. Gandhi

 

cc:

Jay Ingram, Securities and Exchange Commission

Dale Welcome, Securities and Exchange Commission

Anne McConnell, Securities and Exchange Commission

Heather Childress, Flex Ltd.

Sharon R. Flanagan, Sidley Austin LLP

Lindsey A. Smith, Sidley Austin LLP

Robert G. Day, Wilson Sonsini Goodrich & Rosati, Professional Corporation

Melissa S. Rick, Wilson Sonsini Goodrich & Rosati, Professional Corporation

 

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