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Array Technologies, Inc. Announces Pricing of Upsized Initial Public Offering
ALBUQUERQUE, N.M., Oct. 14, 2020 (GLOBE NEWSWIRE) -- Array Technologies, Inc. (the “Company”) today announced the pricing of its upsized initial public
About this update from Array Technologies, Inc.
[{"type":"text","content":"ALBUQUERQUE, N.M., Oct. 14, 2020 (GLOBE NEWSWIRE) -- Array Technologies, Inc. (the “Company”) 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.\n 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. A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on October 14, 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: [email protected]); 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 [email protected]; 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 [email protected]; and Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014. This press release shall not constitute an offer to sell or t...