BUZZ-Array Technologies dims after announcing $250 mln convertible debt deal

Reuters

2025/06/24

** Shares of solar tracker maker Array Technologies ARRY.O down 13.4% premarket to $6.40 after potential capital raise news

** Albuquerque, New Mexico-based ARRY offering privately $250 mln convertible notes due 2031

** It plans to use net offering proceeds to repay $150 mln of debt under term loan, and fund cost of capped calls, derivative transactions employed to offset dilution

** Any remainder to be used for general purposes, including any repurchases of its outstanding 1% convertible notes due 2028, it says

** Co has market cap of approx $1.1 bln

** ARRY shares on Mon edged down a penny to close at $7.39, up 22% YTD

** Of 24 analysts covering ARRY, recommendation breakdown is 12 "strong buy" or "buy", 12 "hold" and median PT is $8, according to latest LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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The views expressed are his own)</p><p>((lance.tupper@tr.com 1-646-279-6380))</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0823414478.USD","symbol_name":"法巴經典能源轉換基金","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250624:nL6N3SR0OB:1","article_id":"2545281254","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2545281254","pubTimestamp":1750765055,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Array Technologies dims after announcing $250 mln convertible debt deal** Shares of solar tracker maker Array Technologies ARRY.O down 13.4% premarket to $6.40 after potential capital raise news ** Albuquerque, New Mexico-based ARRY offering privately $250 mln convertible notes due 2031** It plans to use net offering proceeds to repay $150 mln of debt under term loan, and fund cost of capped calls, derivative transactions employed to offset dilution** Any remainder to be used for general purposes, including any repurchases of its outstanding 1% convertible notes due 2028, it says** Co has market cap of approx $1.1 bln** ARRY shares on Mon edged down a penny to close at $7.39, up 22% YTD** Of 24 analysts covering ARRY, recommendation breakdown is 12 \"strong buy\" or \"buy\", 12 \"hold\" and median PT is $8, according to latest LSEG data","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0823414478.USD":"法巴经典能源转换基金","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU1093756325.SGD":"FTIF - Franklin K2 Alt Strat Fd A (acc) SGD-H1","BK4096":"电气部件与设备","BK4588":"碎股","LU2506951792.HKD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (HKDHDG)       ACC","LU0823414551.USD":"BNP PARIBAS ENERGY TRANSITION \"C\" (USD) INC","LU2357125470.USD":"BNP PARIBAS ENERGY TRANSITION \"CLASSIC RH\" (USDHDG) ACC","BK4585":"ETF&股票定投概念","LU1093756168.USD":"FRANKLIN K2 ALTERNATIVE STRATEGIES \"A\" (USD) ACC","LU1983299162.USD":"SCHRODER ISF GLOBAL ENERGY TRANSITION \"A\" (USD) ACC","ARRY":"Array Technologies Inc.","LU2294711713.HKD":"BNP PARIBAS ENERGY TRANSITION \"C\" (HKD) ACC"},"translate_title":"BUZZ-Array Technologies宣布2.5亿美元可转换债务交易后气氛黯淡","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ARRY":0.9},"content_text":"BUZZ-Array Technologies dims after announcing $250 mln convertible debt deal** Shares of solar tracker maker Array Technologies ARRY.O down 13.4% premarket to $6.40 after potential capital raise news ** Albuquerque, New Mexico-based ARRY offering privately $250 mln convertible notes due 2031** It plans to use net offering proceeds to repay $150 mln of debt under term loan, and fund cost of capped calls, derivative transactions employed to offset dilution** Any remainder to be used for general purposes, including any repurchases of its outstanding 1% convertible notes due 2028, it says** Co has market cap of approx $1.1 bln** ARRY shares on Mon edged down a penny to close at $7.39, up 22% YTD** Of 24 analysts covering ARRY, recommendation breakdown is 12 \"strong buy\" or \"buy\", 12 \"hold\" and median PT is $8, according to latest LSEG data(Lance Tupper is a Reuters market analyst. 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