Array Technologies, Inc. priced an offering of $300 million in convertible senior notes due 2031.

From GlobeNewswire: 2025-06-24 21:50:00

Array Technologies, Inc. has priced an offering of $300 million in convertible senior notes due 2031 in a private placement. The net proceeds from the offering are estimated to be around $290.4 million, with plans to use the funds for various purposes, including repaying outstanding debts and funding capped call transactions. The initial conversion rate for the notes will be 123.1262 shares of ARRAY’s common stock per $1,000 principal amount. The notes will mature on July 1, 2031, unless earlier redeemed or converted, offering holders flexibility in their options.

ARRAY Technologies, Inc., a global provider of solar tracking technology, announced the pricing of an upsized offering of $300 million in convertible senior notes due 2031. The net proceeds from the offering are expected to be approximately $290.4 million, with plans to use the funds for repaying debts and entering into capped call transactions. The notes will accrue interest at a rate of 2.875% per annum, with semiannual payments starting on January 1, 2026. The offering is set to close on June 27, 2025, subject to customary closing conditions, providing investors with an opportunity to participate in ARRAY’s growth and development.



Read more at GlobeNewswire: Array Technologies Announces Pricing of Upsized Offering