Array Technologies Inc. (ARRY) Announces $500 Million Capital Commitment from Blackstone (BX)
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Array Technologies, Inc. Announces $500 Million Capital Commitment from Blackstone
August 11, 2021 4:01 PM EDTALBUQUERQUE, N.M., Aug. 11, 2021 (GLOBE NEWSWIRE) -- Array Technologies, Inc. (Nasdaq: ARRY), one of the worlds largest manufacturers of utility-scale solar technology, today announced that it had entered into an agreement to sell up to $500 million of perpetual preferred stock to private equity funds managed by Blackstone Energy Partners (Blackstone). Under the terms of the agreement, Array will sell $350 million of perpetual preferred stock to Blackstone at the initial closing and, at the Companys option, up to an additional $150 million of perpetual preferred stock at any time prior to June 30, 2023. The perpetual... More
