Array Technologies, Inc. filed a Form 425 on November 4, 2026, disclosing a stakeholder communication sent to government officials, regulators, and industry groups announcing a definitive agreement for a stock-for-stock merger with Shoals Technologies Group, Inc.

Key Highlights

  • Definitive agreement signed: ARRAY Technologies and Shoals Technologies Group have entered into a definitive agreement to combine in a stock-for-stock merger, according to the filing.
  • Integrated platform: The combined company is described in the filing as an "integrated energy infrastructure platform" spanning foundations, trackers, fixed-tilt racking, electrical infrastructure, wire management, and power delivery systems.
  • Expected closing timeline: The transaction is expected to close in the first quarter of 2027, subject to shareholder and regulatory approvals and Nasdaq listing authorization for the combined company's shares.
  • Leadership structure: Upon completion, Brandon Moss, CEO of Shoals, will lead the combined company; Kevin Hostetler will serve as Special Advisor during the transition, the filing states.
  • Headquarters location: The combined company's headquarters and principal place of business will be in Albuquerque, New Mexico, according to the filing.
  • Operations unchanged until close: The filing states that ARRAY and Shoals will continue to operate as separate companies until the transaction closes, and that the announcement "does not change either company's existing manufacturing operations or commitments to local communities."

ARRAY and Shoals Merger: Disclosure Details and Transaction Terms

Array Technologies, Inc. filed a Form 425 communication with the SEC on November 4, 2026, reproducing an email sent to government officials, regulators, and industry groups regarding its proposed merger with Shoals Technologies Group, Inc. (subject company Commission File No. 001-39942). The filing was made pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934.

According to the filing, the two companies have entered into a definitive agreement structured as a stock-for-stock merger. The disclosed rationale is to bring together "market-leading, complementary solutions" across multiple product categories, with the expectation of "reducing installation costs, streamlining project execution and lowering long-term maintenance requirements through increased product integration." The filing identifies utility-scale solar, distributed generation, battery energy storage, and data centers as target markets for the combined company.

The filing notes that the transaction requires shareholder and regulatory approvals, as well as authorization for the combined company's shares to be listed on Nasdaq, before it can close. The filing contains forward-looking statements, which the company's own cautionary language identifies as subject to numerous risks and uncertainties, including risks related to obtaining required approvals, integration challenges, potential litigation, and market and regulatory developments. Neither company undertakes any obligation to update those forward-looking statements except as required by law, according to the filing.

What Was Disclosed

Array Technologies filed a Rule 425 stakeholder communication on November 4, 2026, announcing a definitive stock-for-stock merger agreement with Shoals Technologies Group, with closing expected in the first quarter of 2027 and the combined company to be headquartered in Albuquerque, New Mexico.