Array Tech Q2 revenue up 76% to $202.8M; closes $346M Blackstone PIPE

Array Technologies, Inc.

Revenue $202.8M (+76% YoY); net loss ~$17K; adjusted EBITDA $16.2M (+23% YoY).
Gross margin 13.2% vs 19.3% last year due to higher input & freight costs.
FY2021 guidance: revenue $850-940M, adjusted EBITDA $55-75M, adj. EPS $0.15-0.25.
Sold 350K Series A perpetual preferred shares + 7.1M common to Blackstone for $346M.
Board appointed Blackstone designee Bilal Khan; funds to repay debt and general corporate.

item 1.01 item 2.02 item 3.02 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Bilal Khan

Director

ARRY · Array Technologies, Inc.

Filed: August 11, 2021, 7:59 PM ET

Bilal Khan has been designated by the Purchaser as the Series A Director and, accordingly, the Board appointed Mr. Khan to serve as a member of the Board effective as of the Initial Closing.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Bilal Khan was appointed as Director at Array Technologies, Inc..

Action: appointed
Role: Director

Exact text from the filing

Bilal Khan has been designated by the Purchaser as the Series A Director and, accordingly, the Board appointed Mr. Khan to serve as a member of the Board effective as of the Initial Closing.

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Array Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001820721-21-000057

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