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Array Technologies, Inc. (ARRY)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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34.09-1.76 (-4.91%)
At close: 4:00PM EST

34.48 +0.39 (1.14%)
After hours: 6:28PM EST

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Previous Close35.85
Open36.17
Bid34.10 x 1400
Ask34.25 x 800
Day's Range33.83 - 36.90
52 Week Range29.05 - 50.99
Volume4,482,262
Avg. Volume3,449,345
Market Cap4.329B
Beta (5Y Monthly)N/A
PE Ratio (TTM)42.77
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • Array Technologies, Inc. Announces Pricing of Upsized Secondary Offering of 31,875,000 Shares
    GlobeNewswire

    Array Technologies, Inc. Announces Pricing of Upsized Secondary Offering of 31,875,000 Shares

    ALBUQUERQUE, N.M., Dec. 03, 2020 (GLOBE NEWSWIRE) -- Array Technologies, Inc. (NASDAQ: ARRY) (the “Company”) today announced the pricing of an upsized secondary offering by a parent entity of the Company controlled by Oaktree Capital (the “Selling Stockholder”) of 31,875,000 shares of common stock of the Company at a price to the public of $35.00 per share. In addition, the Selling Stockholder granted the underwriters a 30-day option to purchase up to an additional 4,781,250 shares at the public offering price, less underwriting discounts and commissions. The Company will not receive any 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.” The offering is expected to close on December 7, 2020, subject to customary closing conditions. Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint book-running managers and representatives of the underwriters for the offering. Guggenheim Securities is also acting as a joint book-running manager and Credit Suisse, Morgan Stanley, Barclays and UBS Investment Bank are acting as book-runners. Cowen and Oppenheimer & Co. Inc. are acting as co-managers.A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on December 2, 2020. This offering is being made only by means of a prospectus, copies of which may be obtained, when available, 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.This press release shall 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 StatementsThis 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, 203-585-4750 jmccusker@soleburytrout.com  Investor Relations Contact: 505-437-0010 investors@arraytechinc.com

  • Array Technologies, Inc. Announces Launch of Secondary Offering of 25 Million Shares
    GlobeNewswire

    Array Technologies, Inc. Announces Launch of Secondary Offering of 25 Million Shares

    ALBUQUERQUE, N.M., Nov. 30, 2020 (GLOBE NEWSWIRE) -- Array Technologies, Inc. (NASDAQ: ARRY) (the “Company”) today announced that a parent entity of the Company controlled by Oaktree Capital (the “Selling Stockholder”) has commenced an underwritten public offering of 25,000,000 shares of the Company’s common stock pursuant to a registration statement filed with the Securities and Exchange Commission. Additionally, the Selling Stockholder intends to grant the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of the Company’s common stock. The Company's common stock is listed on the Nasdaq Global Market under the symbol "ARRY." The Company will not receive any of the proceeds from the sale of shares offered by the Selling Stockholder.Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint book-running managers and representatives of the underwriters for the offering. Guggenheim Securities is also acting as a joint book-running manager. In connection with this offering, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as representatives of the several underwriters in Array’s initial public offering, have agreed to release the restrictions under the lock-up agreement that was executed in connection with the initial public offering with respect to the shares of common stock being offered by the Selling Stockholder, provided that the release of shares of common stock held by the Selling Stockholder is limited to the shares actually sold in this offering. In addition, upon the pricing of this offering, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC have agreed to release the restrictions under each of the lock-up agreements that were entered into by Array’s directors, executive officers and the Selling Stockholder in connection with Array’s initial public offering effective on the date that is 90 days after the date of the prospectus relating to this offering.The offering will be made only by means of a prospectus, which will be filed with the SEC and available on the SEC’s website at www.sec.gov. Copies of the preliminary 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 these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. 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. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.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 StatementsThis 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, 203-585-4750 jmccusker@soleburytrout.com  Investor Relations Contact: 505-437-0010 investors@arraytechinc.com

  • UPDATE -- Array Technologies announces a 1GW purchase agreement with RP Construction Services
    GlobeNewswire

    UPDATE -- Array Technologies announces a 1GW purchase agreement with RP Construction Services

    Partnering with Leading Design-Build Contractor to Bring Advanced Solar Tracker Technology to the Distributed Generation MarketALBUQUERQUE, N.M., Nov. 30, 2020 (GLOBE NEWSWIRE) -- Array Technologies, Inc. (NASDAQ: ARRY) (“Array”) today announced it has entered into an agreement to supply 1GW of DuraTrack® HZ v3 single-axis solar trackers to RP Construction Services, Inc. (“RPCS”). RPCS provides design-build services for small and medium-sized ground-mounted solar energy projects across the U.S. and is the leading contractor for solar energy projects under 25 MWs. “The endorsement of the segment-leading contractor for distributed energy projects underscores both the strength of our product offering and the value our trackers can create for projects of all sizes. The small-utility, municipal, medium-sized commercial and community solar markets are growing rapidly, and collaborating with RPCS to address this segment of the market should further accelerate our growth in the U.S. I am also pleased that this order follows on the Lightsource bp purchase agreement announced earlier this month, making it the second order over 1 GW that we have received in the past 30 days,” said Jim Fusaro, Chief Executive Officer of Array.“We are incredibly excited about expanding our relationship with Array. They have the best system in the marketplace in terms of ease of installation, reliability, and durability. We have more than tripled the size of our company with their products over the past three years, and we look forward to continuing that growth with this agreement,” said Eb Russell, Chief Executive Officer of RPCS.  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. Contact us at arraytechinc.com or view our LinkedIn page.About RPCS RPCS provides turnkey design and installation services for ground-mounted solar energy projects in the U.S. with a focus on the distributed generation market. The Company has completed more than 700 projects, representing 2 GW of generation capacity, since 2015. RPCS combines a team-oriented culture that values all employees with innovative, tech-enabled work practices to deliver projects of all sizes on-spec and on-time. RPCS has approximately 250 employees and maintains offices in California, Mississippi and Texas. Connect with RPCS on LinkedIn or view our website at www.rpcs.com.Forward Looking Statements This press release contains forward looking statements. 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.  Media Contact: James McCusker, 203-585-4750 jmccusker@soleburytrout.com Investor Relations Contact: 505-437-0010 investors@arraytechinc.com