Array Technologies, Inc. Announces Closing of Secondary Offering of 36,656,250 Shares
December 07 2020 - 4:10PM
Array Technologies, Inc. (NASDAQ: ARRY) (the “Company”) today
announced the closing of the previously announced secondary
offering by a parent entity of the Company controlled by Oaktree
Capital (the “Selling Stockholder”). The offering consisted of
36,656,250 shares of the Company’s common stock sold by the Selling
Stockholder, which included 4,781,250 shares of the common stock
following the exercise in full of the underwriters’ option to
purchase additional shares of the Company’s common stock from the
Selling Stockholder, at the public offering price of $35.00 per
share. The Company did not receive any of the proceeds from the
sale of shares by the Selling Stockholder. The Company's common
stock is listed on the Nasdaq Global Market under the symbol
“ARRY.”
Goldman Sachs & Co. LLC and J.P. Morgan acted as joint
book-running managers and representatives of the underwriters for
the offering. Guggenheim Securities also acted as a joint
book-running manager and Credit Suisse, Morgan Stanley, Barclays
and UBS Investment Bank acted as book-runners. Cowen and
Oppenheimer & Co. Inc. acted as co-managers.
The offering was made only by means of a prospectus, which was
filed with the U.S. Securities and Exchange Commission (the “SEC”)
and available on the SEC’s website at www.sec.gov. Copies of the
final prospectus relating to this offering may be obtained from:
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200
West Street, New York, NY 10282 (telephone: (866) 471-2526 or
email: prospectus-ny@ny.email.gs.com); J.P. Morgan Securities LLC,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 (telephone: 1-866-803-9204), or by email at
prospectus-eq_fi@jpmchase.com; and Guggenheim Securities, LLC,
Attention: Equity Syndicate Department, 330 Madison, 8th Floor, New
York, NY 10017, by telephone at (212) 518-9658, or by email at
GSEquityProspectusDelivery@guggenheimpartners.com.
A registration statement relating to the offering has been filed
with the SEC and declared effective on December 2, 2020. This press
release does not constitute an offer to sell or the solicitation of
an offer to buy these securities, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Array Technologies, Inc.
Array Technologies is a leading global technology company
providing tracker solutions and services for utility-scale solar
energy projects as one of the world's largest manufacturers of
ground-mounting systems. With efficient installation and terrain
flexibility coupled with high reliability, durability, and
performance, Array delivers a lower levelized cost of energy. The
Company's focus on innovation, combined with its customer-centric
approach, has helped achieve some of the industry's best returns.
Array Technologies is headquartered in the United States with
offices in Europe, Central America, and Australia.
Forward Looking Statements
This press release contains forward looking statements,
including statements regarding the secondary offering. These
statements are not historical facts but rather are based on the
Company’s current expectations and projections regarding its
business, operations and other factors relating thereto. Words such
as “may,” “will,” “could,” “would,” “should,” “anticipate,”
“predict,” “potential,” “continue,” “expects,” “intends,” “plans,”
“projects,” “believes,” “estimates” and similar expressions are
used to identify these forward looking statements. These statements
are only predictions and as such are not guarantees of future
performance and involve risks, uncertainties and assumptions that
are difficult to predict. Actual results may differ materially from
those in the forward looking statements as a result of a number of
factors, including those in the Company’s registration statement
filed with the Securities and Exchange Commission.
Media Contact:James McCusker,
203-585-4750jmccusker@soleburytrout.com
Investor Relations
Contact:505-437-0010investors@arraytechinc.com
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