Organization and Business

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Business

Organization and Business

Array Technologies, Inc., (the “Company”) formerly ATI Intermediate Holdings, LLC, is a Delaware corporation formed in December 2018 as a wholly owned subsidiary of ATI Investment Parent, LLC (“Former Parent”). On October 14, 2020, we converted from a Delaware limited liability company to a Delaware corporation and changed our name to Array Technologies, Inc. The Company is headquartered in Albuquerque, New Mexico, and manufactures and supplies solar tracking systems and related products for customers across the United States and internationally. The Company, through its wholly-owned subsidiaries, High Desert Finance, LLC (“HDF”) and ATI Investment Holdings, Inc. (“ATI Investment”) owns two other subsidiaries through which it conducts substantially all operations; Array Tech, Inc. and Array Technologies Patent Holdings Co., LLC (“Array”). Former Parent acquired Array on July 8, 2016.

On October 19, 2020, the Company completed the initial public offering of its common stock (the “IPO”). In the IPO, the Company sold 7,000,000 shares of its common stock at a public offering price of $22.00 per share. The Company received net proceeds of $139.1 million, net of underwriting discounts and commissions of $8.5 million and other offering costs of $6.5 million.