智通财经APP获悉，在经历了数日紧张的谈判之后，美国参议院通过了美国总统特朗普最新版的税收和 支出法案，共和党在最后一刻取消了针对风能和太阳能项目的消费税。受该消息影响，美股太阳能类股 票周二大涨。 截至周二美股收盘，Shoals Technologies(SHLS.US)涨近24%，Array Technologies(ARRY.US)涨近13%， Sunrun(RUN.US)涨近11%，Fluence Energy(FLNC.US)涨超9%，SolarEdge Technologies(SEDG.US)涨超 7%，Nextracker(NXT.US)涨近6%。 一些美国制造商支持这项拟议的税收，他们表示美国需要摆脱对中国的清洁能源供应链的依赖。但这一 政策却引起了可再生能源开发商的担忧，他们称这可能会增加太阳能和风力发电场的成本，因为这些发 电场仍依赖一些外国零部件和中国主导的供应链。 该法案仍规定从2026年开始逐步取消太阳能和风能的税收抵免，到2028年完全取消，并且要求太阳能或 风能项目必须在2027年底前投入运行才能获得税收抵免;核电税收抵免将持续到2036年，氢能税收抵免 将于2028年取消。 ...

Group 1 - Clean energy stocks experienced a rise after the removal of a tax on solar and wind projects from the Senate version of the One Big Beautiful Bill Act [1][2] - NextEra Energy, the largest renewables developer in the U.S., saw its shares increase by nearly 3%, while AES, a leading renewable provider, rose almost 2% [1] - The American Clean Power Association and Solar Energy Industries Association confirmed that the tax, which could have added up to $7 billion to the solar and wind industry's tax burden, was removed from the legislation [3] Group 2 - The clean energy industry expressed surprise and outrage over the initial inclusion of a tax on wind and solar projects, which targeted components from foreign entities of concern, primarily referring to China [2] - The megabill will now proceed to the House of Representatives for further consideration of the Senate's changes [1]

Senate Republicans are threatening to hike taxes on clean energy projects and abruptly phase out credits that have supported the industry's expansion in the latest version of President Donald Trump's big spending bill.The measures, if enacted, would jeopardize hundreds of thousands of construction jobs, hurt the electric grid, and potentially raise electricity prices for consumers, trade groups warn.The Senate GOP released a draft of the massive domestic spending bill over the weekend that imposes a new tax ...

Core Viewpoint - ARRAY Technologies, Inc. successfully closed a private offering of $345 million in convertible senior notes, aimed at strengthening its capital structure and enhancing financial flexibility for long-term growth [1][2]. Group 1: Offering Details - The offering consisted of $345 million aggregate principal amount of 2.875% convertible senior notes due July 2031, sold only to qualified institutional buyers [1]. - The net proceeds from the offering were approximately $334.1 million after deducting discounts and estimated expenses [2][6]. Group 2: Financial Management - The company plans to use the proceeds to fully repay approximately $232.8 million of outstanding indebtedness under its term loan facility [2][6]. - Approximately $35.1 million of the net proceeds will fund the cost of entering into capped call transactions, while about $78.3 million will be used to repurchase $100 million in aggregate principal amount of its outstanding 1.00% Convertible Senior Notes due 2028 [2][6]. Group 3: Impact on Shareholders - The refinancing of higher-cost debt and proactive management of the debt maturity profile is expected to minimize potential dilution for shareholders [2]. - Total annual net interest expense savings from these transactions is anticipated to be approximately $9 million, enhancing free cash flow generation [4]. Group 4: Capped Call Transactions - The capped call transactions are designed to reduce potential dilution upon conversion of the notes, with an initial cap of $12.74 per share and an initial strike price of $8.12 per share [3].

Core Viewpoint - Array Technologies, Inc. has announced an upsized offering of $300 million in convertible senior notes, with an interest rate of 2.875% and a maturity date of July 1, 2031, aimed at qualified institutional buyers [1][2]. Summary by Sections Offering Details - The offering consists of $300 million in aggregate principal amount of 2.875% convertible senior notes due 2031, with an option for initial purchasers to buy an additional $45 million [1]. - The expected closing date for the offering is June 27, 2025, pending customary closing conditions [1]. Financial Proceeds and Use - Estimated net proceeds from the offering are approximately $290.4 million, or $334.1 million if the additional notes option is fully exercised [3]. - The company plans to allocate $150 million to repay outstanding term loan debt, approximately $30.5 million for capped call transactions, and around $100 million for repurchases of existing convertible notes [3]. Conversion and Redemption Features - The notes are convertible under specific conditions prior to April 1, 2031, and at any time thereafter until maturity [4]. - The initial conversion rate is set at 123.1262 shares per $1,000 principal amount, equating to an initial conversion price of approximately $8.12 per share, representing a 27.5% premium over the last reported sale price [4]. Capped Call Transactions - The company has entered into capped call transactions to mitigate potential dilution upon conversion of the notes, with a cap price of $12.74 per share, a 100% premium over the last reported sale price [8]. Market Activity and Impact - Initial hedging activities related to the capped call transactions may influence the market price of the company's common stock and the notes [9]. - The repurchase of existing convertible notes may also lead to market activities that could affect the trading price of both the notes and the common stock [10][11]. Company Overview - Array Technologies, Inc. is a leading provider of solar tracking technology, focusing on utility-scale and distributed generation customers [13]. - The company emphasizes its commitment to high-quality solar solutions and a customer-centric approach, supported by domestic manufacturing and a diversified global supply chain [14].

ALBUQUERQUE, N.M., June 24, 2025 (GLOBE NEWSWIRE) -- Array Technologies, Inc. (NASDAQ: ARRY) (the “Company” or “ARRAY”) today announced that, subject to market conditions, it intends to offer $250 million in aggregate principal amount of convertible senior notes due 2031 (the “Notes”) in a private placement (the “Offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”). ARRAY also intends to grant th ...

ARRAY Technologies to Acquire APA Solar DISCLAIMER Non-GAAP Financial Information This presentation includes certain financial measures that are not presented in accordance with U.S. generally accepted accounting principles ("GAAP"), including EBITDA. "EBITDA" means, with reference to any historical period of APA Solar, as net income (loss) to common shareholders plus interest expense, income tax expense (benefit), depreciation, and amortization. We believe that the presentation of EBITDA enhances the reade ...

Summary of Array Technologies (ARRY) M&A Announcement Company and Industry - **Company**: Array Technologies (ARRY) - **Acquisition Target**: APA Solar - **Industry**: Solar Energy Solutions Core Points and Arguments 1. **Acquisition Announcement**: Array Technologies announced a definitive agreement to acquire APA Solar, valued at approximately $179 million, with an expected closing in Q3 2025, subject to regulatory approval [6][27]. 2. **Strategic Rationale**: The acquisition aims to enhance Array's competitive advantage by expanding its product portfolio beyond solar tracking systems to include engineered foundation solutions and fixed tilt racking systems [5][7]. 3. **Market Expansion**: The acquisition is expected to increase Array's addressable market by nearly 40%, allowing the company to serve a broader range of project types [9][21]. 4. **Cost and Revenue Synergies**: Anticipated cost synergies will arise from sourcing efficiencies and streamlined manufacturing processes, while revenue synergies will come from integrated offerings and increased access to utility-scale clients [10][11]. 5. **Financial Impact**: The transaction is expected to be accretive to Array's adjusted EPS in the first year before synergies, with an attractive valuation multiple [6][11][30]. 6. **Tax Benefits**: The acquisition is expected to provide tax advantages, including approximately $31 million in present value tax savings due to a step-up in basis on APA's assets [28][30]. 7. **APA's Financials**: APA Solar reported $129 million in revenue and $25 million in EBITDA for 2024, indicating a strong financial position that is expected to integrate well with Array's operations [13][28]. 8. **Product Integration**: The combination of Array's tracker technology with APA's engineered foundations is expected to optimize system design and improve project economics [22][24]. 9. **Market Trends**: The acquisition aligns with trends in the solar industry, where engineered foundations are becoming essential for projects in diverse geographies, particularly in challenging soil conditions [15][19]. 10. **Leadership Retention**: APA's leadership will remain with the company post-acquisition, incentivized to deliver financial results and contribute to Array's success [11][30]. Other Important Content 1. **Cultural Fit**: APA's family-owned culture and focus on collaboration and innovation are seen as a good match for Array's values [12]. 2. **Future Growth**: The acquisition supports Array's long-term growth strategy, particularly in the context of increasing demand for hybrid utility-scale projects that utilize both tracking and fixed tilt systems [29][30]. 3. **No Change to Guidance**: Array's standalone 2025 full-year guidance remains unchanged at this time, with updates expected post-transaction [30].

Core Viewpoint - ARRAY Technologies has announced the acquisition of APA Solar, enhancing its capabilities in engineered foundation solutions and fixed-tilt mounting systems for solar projects, which is expected to be accretive to its Adjusted EPS in the first year before synergies [1][4]. Acquisition Details - The acquisition transaction values APA at approximately $179 million, representing a multiple of 7.6x trailing 12 months EBITDA, excluding 45X credits [3][4]. - APA generated approximately $129 million in revenue and $25 million in EBITDA in 2024, excluding 45X credits [1]. - The deal includes $168 million in upfront cash consideration and $42 million in deferred consideration, with $31 million of net present value of tax benefits factored in [3][4]. Strategic Benefits - The acquisition allows ARRAY to offer an integrated tracker and foundation system, addressing challenging soil conditions without the need for specialized installation equipment [2][4]. - The addition of domestically manufactured engineered foundations and fixed-tilt solutions expands ARRAY's addressable market by nearly 40% [4]. - The partnership is expected to enhance operational excellence and provide expanded resources and expertise for both companies [3][6]. Management and Operations - Following the acquisition, APA's senior management team will remain in place and lead the new "Foundation Solutions Business" within ARRAY [6]. - The headquarters and principal manufacturing operations of APA will continue to be located in Ridgeville Corners, Ohio [6]. Timeline and Conditions - The transaction is expected to close in the third quarter of 2025, pending regulatory approvals and customary closing conditions [4][7].

Core Insights - The recent GOP tax bill has significant negative implications for the clean energy sector, particularly affecting solar companies and their business models [1][2][3] Group 1: Impact on Solar Stocks - Solar stocks experienced a sharp decline, with Sunrun falling over 35% due to the termination of key clean energy credits [1] - Enphase and SolarEdge saw a drop of approximately 18% as demand for rooftop solar is expected to decrease [2] - Array and Nextracker, which produce devices for solar panel tracking, fell by 14% and 5% respectively, reflecting the adverse impact on utility-scale solar projects [3] Group 2: Legislative Changes - The GOP bill ends investment and electricity production credits for clean energy facilities that begin construction after the legislation is enacted or enter service after December 31, 2028 [3] - Analysts describe the bill as a "sledgehammer" to the Inflation Reduction Act, indicating a severe setback for the rooftop solar industry, where 70% of installations use lease arrangements [2] Group 3: Company-Specific Outcomes - First Solar's stock only decreased by 1% as the manufacturing tax credit remains intact, which is seen as a positive outcome for the company [4] - First Solar is noted as the largest producer of solar panels in the U.S., benefiting from a strong domestic manufacturing presence [4]