Array Technologies, which manufactures solar panel mounting systems that track the sun, raised $1.0 billion by offering 47.5 million shares (15% primary) at $22, above the range of $19 to $21. The company originally filed to offer 33.75 million shares, before increasing the secondary share offering on Tuesday, and again at pricing.
Array Technologies plans to list on the Nasdaq under the symbol ARRY. Goldman Sachs, J.P. Morgan, Guggenheim Securities, Morgan Stanley, Credit Suisse, Barclays and UBS Investment Bank acted as joint bookrunners on the deal.
The article Solar equipment provider Array Technologies prices upsized IPO above the range at $22 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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