initial public offerings (IPOs) trading on American exchanges

Thursday, October 15, 2020

Array Technologies (ARRY) began trading on the Nasdaq on Thur 15 Oct 20

 Array Technologies (ARRY) opened its first day of trading at $29.50, up 34% from its $22 pricing. 

The solar ground monitoring system provider priced the upsized offering of 47.5M shares a dollar above its prior range.

The offering included 7M shares from Array and 40.5M from a selling shareholder.

Financials: 2019 sales totaled $647.9M (+123% Y/Y) with $39.7M in net income, up from the prior year's $60.8M loss. For H1 2020, revenue was $552.6M (+145%) with $76M net income.

Publicly-traded competitor: Gibraltar Industries (NASDAQ: ROCK), owner of solar racking company RBI Solar.

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