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Array Technologies Inc. (ARRY) Prices 31.05M Share Secondary Offering at $28/Sh

March 19, 2021 6:16 AM EDT

Array Technologies, Inc. (NASDAQ: ARRY) (the “Company”) today announced the pricing of a secondary offering by a stockholder of the Company controlled by Oaktree Capital (the “Selling Stockholder”) of 31,054,971 shares of common stock of the Company at a price to the public of $28.00 per share. In addition, the Selling Stockholder granted the underwriters a 30-day option to purchase up to an additional 4,420,486 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 March 23, 2021, 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, Barclays and UBS Investment Bank are acting as book-runners. Cowen, Oppenheimer & Co. Inc., Johnson Rice & Company L.L.C., Roth Capital Partners and Simmons Energy | A Division of Piper Sandler are acting as co-managers.

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on March 18, 2021.



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