Shoals Technologies Group and Array Technologies announced a definitive agreement for Array to acquire Shoals in an all-stock merger, creating an integrated energy infrastructure platform. Under the terms, Shoals shareholders will receive 1.6931 Array shares for each share held, representing approximately 65% ownership of the combined entity. The transaction is expected to close in the first quarter of 2027, subject to shareholder and regulatory approvals. Array has also committed to redeem $317.5 million of its Series A Perpetual Preferred Stock as part of the deal. Shoals Technologies Group manufactures electrical balance-of-system solutions for utility-scale solar and battery storage projects.
