VentureBeat

GT Solar, a maker of silicon-based solar cell manufacturing equipment and production lines, has files for an initial public offering on the NASDAQ stock exchange under the symbol SOLR.

The company, formerly called GT Equipment Technologies, plans to place 30.3 million shares on the market, about a quarter of its total equity, and anticipates a $15.50 to $17.50 range per share. At $16.50, that would result in gross proceeds of just under $500 million.

However, the proceeds will go entirely to the company’s investors, which include RBC Capital Partners and Wells Fargo.

GT Solar is based in Merrimack, New Hampshire, with sales offices worldwide.