ARRAY Technologies Upsizes and Extends Revolving Credit Facility to $370 Million, Strengthening Liquidity and Strategic Flexibility

Rhea-AI Summary

ARRAY Technologies (NASDAQ: ARRY) upsized and extended its revolving credit facility to $370 million on February 18, 2026, increasing capacity from $166 million and extending maturity to February 18, 2031. The amended facility includes up to $250 million for letters of credit and adds new lending partners.

The syndicate is led by Goldman Sachs Bank USA with joint lead arrangers J.P. Morgan, Wells Fargo Securities, PNC, and HSBC; additional participants include RBC, BNP Paribas, Morgan Stanley Senior Funding, and Jefferies. The company said the move strengthens liquidity and strategic flexibility for growth and working capital.

Positive

• Revolving credit facility increased to $370 million
• Maturity extended to February 18, 2031
• Up to $250 million available for letters of credit
• Expanded bank syndicate, adding three new lenders

Negative

• None.

News Market Reaction – ARRY

+3.63%

21 alerts

+3.63% News Effect

-3.0% Trough in 3 hr 31 min

+$60M Valuation Impact

$1.70B Market Cap

0.4x Rel. Volume

On the day this news was published, ARRY gained 3.63%, reflecting a moderate positive market reaction. Argus tracked a trough of -3.0% from its starting point during tracking. Our momentum scanner triggered 21 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $60M to the company's valuation, bringing the market cap to $1.70B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Revolver increase: $370 million Prior revolver size: $166 million Letter-of-credit capacity: $250 million +5 more

8 metrics

Revolver increase $370 million Total size of amended revolving credit facility

Prior revolver size $166 million Size of existing revolving credit facility before upsizing

Letter-of-credit capacity $250 million Portion of revolver available for letters of credit

Old maturity date October 14, 2028 Original revolver maturity prior to amendment

New maturity date February 18, 2031 Extended maturity of amended revolver

Share price $11.29 Price around announcement date

52-week range $3.76–$12.23 Low to high over last 52 weeks

Market cap $1,704,665,080 Equity value around announcement date

Market Reality Check

Price: $11.23 Vol: Volume 4,867,088 is about...

normal vol

$11.23 Last Close

Volume Volume 4,867,088 is about 15% below the 20-day average of 5,695,867, suggesting no outsized trading response. normal

Technical Shares at $11.29 are trading above the 200-day MA of $8.22 and sit 7.69% below the 52-week high of $12.23.

Peers on Argus

ARRY gained 1.16% while key peers were mixed: SEDG +3.89%, SHLS +4.49%, SPWR +1....

ARRY gained 1.16% while key peers were mixed: SEDG +3.89%, SHLS +4.49%, SPWR +1.96%, but MAXN -3.85% and JKS -0.49%, pointing to a stock-specific reaction rather than a unified solar move.

Common Catalyst One major peer, SolarEdge (SEDG), also had an earnings announcement today, indicating company-specific catalysts across the solar group rather than a single sector driver.

Historical Context

5 past events · Latest: Feb 04 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 04	Earnings date announcement	Neutral	+5.6%	Set Q4 and full-year 2025 earnings release and call date.
Jan 06	Leadership promotions	Positive	+5.2%	Promoted new Global CRO and Chief Product Officer to support growth.
Nov 14	Investor outreach events	Neutral	+7.6%	Announced participation in multiple investor conferences and meetings.
Nov 05	Q3 2025 earnings	Positive	+7.6%	Reported Q3 2025 results and updated 2025 guidance higher.
Oct 16	Earnings call schedule	Neutral	-0.2%	Announced timing and access details for Q3 2025 earnings call.

Pattern Detected

Recent company communications (earnings, guidance, leadership updates, and investor outreach) have typically been followed by positive one-day price reactions.

Recent Company History

Over the past few months, Array has paired stronger fundamentals with active investor communication. Q3 2025 results on Nov 5, 2025 showed substantial revenue and EBITDA, followed by an 8-K and 10-Q filing the same day. Management has regularly highlighted earnings dates and investor events, such as the Q3 earnings call schedule on Oct 16, 2025 and upcoming Q4/FY 2025 results slated for Feb 25, 2026. Leadership promotions in early Jan 2026 also aligned with a positive share reaction, supporting a pattern of constructive responses to corporate updates.

Market Pulse Summary

This announcement expanded Array’s revolving credit facility to $370 million and pushed its maturity...

Analysis

This announcement expanded Array’s revolving credit facility to $370 million and pushed its maturity out to February 18, 2031, adding liquidity and flexibility for working capital and growth. Recent history, including strong Q3 2025 results and active investor engagement, shows management prioritizing balance sheet strength and capital access. Investors may watch how much of the new capacity is drawn, the role of the $250 million letter-of-credit sublimit, and how this interacts with existing debt instruments.

Key Terms

revolving credit facility, letters of credit, lead arranger, administrative agent

4 terms

revolving credit facility financial

"it has successfully upsized and extended its existing revolving credit facility from $166 million to $370 million"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

letters of credit financial

"The amended facility includes up to $250 million available for the issuances of letters of credit"

A letter of credit is a promise from a bank to pay a seller if the buyer fails to do so, commonly used in trade and large contracts to ensure payment. Think of it as a bank standing in for the buyer, like a certified check or payment insurance that reduces the risk of nonpayment. For investors, letters of credit matter because they affect a company’s cash flow, borrowing needs and contingent liabilities, and signal how much credit support a business requires to secure deals.

lead arranger financial

"Goldman Sachs Bank USA acted as Lead Arranger and is Administrative Agent for the facility"

A lead arranger is the main bank or financial institution that organizes a large loan by putting together other lenders, setting the loan terms and coordinating the paperwork much like a project manager assembling a team. Investors watch the lead arranger because its reputation and decisions affect the loan’s pricing, structure and perceived risk, which can change a company’s cost of borrowing and impact lenders’ returns.

administrative agent financial

"Goldman Sachs Bank USA acted as Lead Arranger and is Administrative Agent for the facility"

An administrative agent is a bank or financial firm appointed to handle the day-to-day paperwork and communication for a group of lenders on a loan or credit agreement, acting as the central point for collecting payments, distributing funds, monitoring covenants, and sharing information. For investors, the administrative agent matters because it influences how quickly lenders receive updates, how smoothly repayments and waivers are handled, and how effectively the lending group enforces terms — think of it as a property manager coordinating tasks for multiple owners.

AI-generated analysis. Not financial advice.

ALBUQUERQUE, N.M., Feb. 18, 2026 (GLOBE NEWSWIRE) -- ARRAY Technologies, Inc. (NASDAQ: ARRY) (“ARRAY” or the “Company”), a leading global provider of solar tracking technology and fixed-tilt products, foundation solutions, software systems and services, announced that on February 18, 2026, it has successfully upsized and extended its existing revolving credit facility from $166 million to $370 million. The amended facility extends the maturity of the revolving credit facility by over two years, from October 14, 2028 to February 18, 2031. The amended facility includes up to $250 million available for the issuances of letters of credit. Goldman Sachs Bank USA acted as Lead Arranger and is Administrative Agent for the facility.

Additional banks participating in the amended facility include Joint Lead Arrangers J.P. Morgan, Wells Fargo Securities, LLC., PNC Capital Markets, LLC., and HSBC Bank USA, as well as participating lenders Royal Bank of Canada, BNP Paribas, Morgan Stanley Senior Funding, Inc., and Jefferies.

The amended facility enhances the Company’s liquidity profile and provides additional flexibility to support operational execution, working capital needs, and global growth initiatives. The increased commitment also aligns with Array’s continued momentum in strengthening its balance sheet and optimizing its capital structure.  

H. Keith Jennings, Chief Financial Officer of ARRAY Technologies, added:

“Strengthening our capital structure and improving our funding access were core priorities for ARRAY, and the expansion of our revolving credit facility reflects recognition of our improving outlook and our commitment to disciplined financial management. The increase in capacity to $370 million—and welcoming three new lenders into our syndicate—demonstrates strong confidence in our strategy, our execution, and our position as one of the global leaders in utility‑scale solar. This increased liquidity capacity enhances our ability to manage working capital efficiently, navigate dynamic market conditions, and support our growth initiatives. We appreciate the support of both our existing and new banking partners as we continue to execute.” 

About ARRAY Technologies

ARRAY Technologies (NASDAQ: ARRY) is a leading global provider of solar tracking technology and fixed-tilt systems to utility-scale and distributed generation customers, who construct, develop, and operate solar PV sites. With solutions engineered to withstand the harshest weather conditions, ARRAY’s high-quality solar trackers, fixed-tilt systems, software platforms, foundation solutions, and field services combine to optimize energy production and deliver value to our customers for the entire lifecycle of a project. Founded and headquartered in the United States, ARRAY is rooted in manufacturing and driven by technology - relying on its domestic manufacturing, diversified global supply chain, and customer-centric approach to design, deliver, commission, train, and support solar energy deployment around the world. For more news and information on ARRAY, please visit arraytechinc.com.

Investor Relations Contact:

Investor Relations
505-437-0010
investors@arraytechinc.com

Media Contact:

Steven Kirsch
505-738-6923
steven.kirsch@arraytechinc.com

Forward-Looking Statements
This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. Forward-looking statements include statements that are not historical facts and can be identified by terms such as "anticipate," "believe," "could," "estimate," "expect," "anticipates," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "will," "would," "designed to" or similar expressions and the negatives of those terms. Forward-looking statements include , but are not limited to, statements regarding the Company’s expectations for the amended revolving credit facility, the Company’s planned use of funds from the amended revolving credit facility, the anticipated impact on liquidity and financial flexibility, the Company’s ability to execute its strategic initiatives, future operational performance, market conditions, growth opportunities, and other statements that are not historical facts. Forward‑looking statements are based on current expectations and assumptions that are subject to a number of risks, uncertainties, and factors that could cause actual results to differ materially from those described in the forward‑looking statements. Forward-looking statements should be evaluated together with the risks and uncertainties that affect our business and operations, particularly those described in more detail in the Company’s most recent Annual Report on Form 10-K and subsequent reports and other documents on file with the SEC, each of which can be found on our website, www.arraytechinc.com. The forward-looking statements included in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

FAQ

What did ARRAY (ARRY) announce about its revolving credit facility on February 18, 2026?

ARRAY announced an upsized revolving credit facility to $370 million, increased from $166 million. According to ARRAY, the amendment also extends maturity to February 18, 2031 and adds up to $250 million of letters of credit capacity.

How does the amended ARRY credit facility affect the company’s liquidity and working capital?

The amended facility improves ARRAY’s liquidity and working capital flexibility immediately. According to ARRAY, the larger $370 million capacity and letter of credit availability support operational execution and global growth initiatives.

Which banks led the $370 million credit facility for ARRAY (ARRY)?

Goldman Sachs Bank USA acted as lead arranger and administrative agent for the facility. According to ARRAY, joint lead arrangers include J.P. Morgan, Wells Fargo Securities, PNC, and HSBC, with additional participating lenders listed.

What is the letters of credit capacity in ARRAY’s amended credit facility (ARRY)?

The amended facility includes up to $250 million available for letters of credit. According to ARRAY, this capacity is part of the expanded $370 million revolving commitment to support project requirements and risk management.

When does ARRAY’s new credit facility maturity occur after the amendment?

The amended revolving credit facility now matures on February 18, 2031, extending over two years beyond the prior October 14, 2028 date. According to ARRAY, this extension enhances multi-year funding visibility.

Will ARRAY’s expanded $370 million facility change its access to capital or bank relationships?

Yes — the expansion broadens ARRAY’s capital access and syndicate composition. According to ARRAY, increasing capacity and welcoming new lenders demonstrates confidence in the company’s strategy and strengthens funding flexibility.