Deals
Oaktree-Backed Solar Firm Array Technologies’ IPO Raises $1.05 Billion
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Solar company Array Technologies Inc. and its largest shareholder raised $1.05 billion after increasing the size of an initial public offering and pricing it above a marketed range.
The company, a provider of solar-tracking solutions for utility-scale projects, sold 7 million shares Wednesday for $22 each after marketing them for $19 to $21 apiece, according to a statement. ATI Investment Parent LLC, an entity controlled by Oaktree Capital Group LLC, sold 40.5 million shares.