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Array Technologies, Inc. (ARRY)

Sector - Industrials

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Company News

IPO Profile

About company

They are one of the world’s largest manufacturers of ground-mounting systems used in solar energy projects. Their principal product is an integrated system of steel supports, electric motors, gearboxes and electronic controllers commonly referred to as a single-axis “tracker.” Trackers move solar panels throughout the day to maintain an optimal orientation to the sun, which significantly increases their energy production. Solar energy projects that use trackers generate up to 25% more energy and deliver a 22% lower levelized cost of energy (“LCOE”) than projects that use “fixed tilt” mounting systems, according to BloombergNEF. Trackers represent between 10% and 15% of the cost of constructing a ground-mounted solar energy project, and approximately 70% of all ground-mounted solar energy projects constructed in the U.S. during 2019 utilized trackers. Their trackers use a patented design that allows one motor to drive multiple rows of solar panels through articulated driveline joints. To avoid infringing on their U.S. patent (expires 2030), their competitors must use designs that they believe are inherently less efficient and reliable. For example, their largest competitor’s design requires one motor for each row of solar panels. As a result, they believe their products have greater reliability, lower installation costs, reduced maintenance requirements and competitive manufacturing costs.
Industry
Solar energy
CEO CFO
Jim Fusaro Nipul Patel
Employees Founded
343 1989

Contacts

Address: 3901 Midway Place NE Albuquerque, New Mexico 87109

Telephone: (505) 881-7567

Web page: http://www.arraytechinc.com

IPO information

Expected Date 10/15/2020
Status Priced
Exchange NASDAQ
Lockup Period Expiration .Pro
Quiet Period Expiration .Pro
Old Price Range
-
Share prices ($)

Financial Data (last reporting year)

Market Cap (MM) $2539.8
Revenues (MM) $975.1
Net Income (Loss) (MM) $110.6

Voting

What do you think will happen with the ARRY share price after the next 3-6 months? 🔥 (+ 10% or more, flat (+ -10%), -10% or less)

Number of votes: img
Shares Initial (MM) 33.8
Shares Revised (MM) 47.5
Expected offer amount (MM) $900
Realized offer amount(MM) $1045
Underwriters
Goldman Sachs/ JP Morgan/ Guggenheim Securities/ Morgan Stanley/ Credit Suisse/ Barclays/ UBS Investment Bank
CO-Managers
Cowen/ Oppenheimer/ MUFG/ Nomura

Sector: Industrials

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