Array Technologies completes acquisition of APA Solar for ~$159.9M cash plus deferred consideration

Array Technologies, Inc.

Cash consideration ~$159.9M net of adjustments; additional deferred consideration equal to 20% of purchase price payable over 2 years.
Earnout consideration up to $40M in shares based on APA's performance over three years ending Sep 2028, capped at $90M cumulative.
Acquisition expected to be accretive to earnings; company expects to update full-year guidance on Q3 earnings call.
APA will operate as a strategic business unit within Array, continuing under its brand.
Deal enhances Array's product portfolio with tracker-compatible foundation systems and fixed-tilt racking.

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