Array Technologies To Offer $325M Of Convertible Senior Notes
byAkanksha BakshiBenzinga Staff Writer
November 30, 2021 5:38 PM
1 min read
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  • Array Technologies Inc ARRY intends to offer $325 million of senior convertible notes due 2028 in a private placement.
  • Array also intends to grant the initial purchasers an option to purchase up to an additional $48.75 million of Notes.
  • The company intends to use the net proceeds, along with cash on hand and/or borrowings and the issuance of up to $100.0 million of Series A Preferred Stock, to pay the cash consideration for acquisition of Soluciones Técnicas Integrales Norland, S.L. and the cost of the capped call transactions.
  • Price Action: ARRY shares are trading lower by 10.6% at $20.44 during the pre-market session on Tuesday.

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