Array Technologies, Inc. filed a Form 425 communication on November 4, 2026, consisting of a joint video transcript in which the CEOs of Shoals Technologies Group, Inc. and ARRAY Technologies, Inc. announced a definitive agreement to combine the two companies in a stock-for-stock merger.

Key Highlights

  • Definitive agreement: Shoals Technologies Group and ARRAY Technologies have entered into a definitive agreement to combine in a stock-for-stock merger, according to the filing.
  • Combined leadership: Brandon Moss, current CEO of Shoals, is expected to serve as CEO of the combined company upon closing.
  • Board structure: The combined company's board is expected to consist of ten directors, including four independent directors from each of the current ARRAY and Shoals boards, plus Brad Forth as Chairman and Brandon Moss.
  • Expected close: The transaction is expected to close in the first quarter of 2027, subject to shareholder and regulatory approvals and other customary closing conditions.
  • ARRAY CEO transition: Kevin Hostetler will retire from ARRAY's management and board upon close and transition to a special advisor role.
  • New identity planned: The companies intend to announce a new corporate name and ticker symbol in the coming months, according to the filing.
  • Combined experience: The filing states the combined teams span more than 250 GW of projects across engineering, innovation, project design, and customer delivery.

Shoals and ARRAY Describe Planned Combination in Joint CEO Statement

The Form 425 filing, submitted by Array Technologies, Inc. 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, contains a transcript of a video message posted to a joint transaction website on November 4, 2026. The subject company is Shoals Technologies Group, Inc. (Commission File No.: 001-39942). In the transcript, the two CEOs described the planned transaction as creating "an integrated energy infrastructure platform."

According to the filing, the combined company is expected to bring together solutions across trackers, foundations, fixed-tilt racking, electrical infrastructure, wire management, and power delivery systems. The filing states the combined entity expects to offer solar and battery storage customers "a unified design package, coordinated purchasing and integrated warranty support across structural and electrical balance-of-system solutions." Brad Forth, described as the current Chairman of the Board of both ARRAY and Shoals, is expected to serve as Chairman of the combined company's board.

The filing notes that until the transaction closes, Shoals and ARRAY will remain separate and independent companies. All statements regarding expected benefits, synergies, timing, and leadership structure are characterized in the filing as forward-looking statements subject to risks and uncertainties, including the possibility that required approvals may not be obtained, that the transaction may not close on the expected timeline or at all, and that anticipated synergies may not be realized.

What Was Disclosed

Array Technologies filed a Form 425 containing a joint CEO video transcript announcing a definitive stock-for-stock merger agreement with Shoals Technologies Group, outlining expected leadership, board composition, transaction timing, and product integration plans.