Array Technologies Inc. (ARRY) Prices 47.5M Share IPO at $22/Sh

Array Technologies, Inc. (NASDAQ: ARRY) today announced the pricing of its upsized initial public offering of 47,500,000 shares of its common stock at a price to the public of $22.00 per share. The offering consists of 7,000,000 shares of common stock being sold by the Company and 40,500,000 shares of common stock being sold by a parent entity of the Company controlled by Oaktree Capital (the “Selling Stockholder”). In addition, the Selling Stockholder granted the underwriters a 30-day option to purchase up to an additional 7,125,000 shares at the public offering price, less underwriting discounts and commissions. The Company will not receive any proceeds from any sale of shares by the Selling Stockholder. The shares of common stock are expected to begin trading on the Nasdaq Global Market on October 15, 2020 under the symbol “ARRY.” The offering is expected to close on October 19, 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 and Morgan Stanley are also acting as joint book-running managers and Credit Suisse, Barclays and UBS Investment Bank are acting as book-runners. Cowen, Oppenheimer & Co. Inc., MUFG and Nomura are acting as co-managers.

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