Array Technologies expands $370M credit facility

Array Technologies amended its main credit facility to increase size and extend maturity.

Rhea-AI Filing Summary

Array Technologies amended its main credit facility to increase size and extend maturity. The revolving credit commitments rose from $166 million to $370 million, and the maturity was pushed from October 14, 2028 to February 18, 2031, giving the company a longer runway.

The facility now allows up to $250 million in letters of credit and expands available currencies for borrowings and letters of credit. Management highlights that the larger, longer-dated facility is intended to support liquidity, working capital needs, operational execution, and global growth initiatives.

Insights

Credit & Capital Structure Analyst

Array boosts revolving credit capacity and extends its debt maturity profile.

Array Technologies more than doubled its revolving credit facility from $166 million to $370 million and extended the maturity to February 18, 2031. The amendment also removes the Term SOFR credit spread adjustment and broadens eligible currencies.

This structure provides up to $250 million for letters of credit, which can support project-related guarantees and global operations. Actual impact depends on how much of the facility is drawn, prevailing interest costs, and future market conditions, which are not detailed here.

The company frames the change as enhancing liquidity and strategic flexibility to fund working capital and growth initiatives. Subsequent company reports will show whether the expanded capacity translates into higher utilization, margin effects, or shifts in overall leverage.

8-K Event Classification

4 items: 1.01, 2.03, 7.01, 9.01

4 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What change did Array Technologies (ARRY) make to its revolving credit facility?

Array Technologies increased its revolving credit facility from $166 million to $370 million and extended maturity to February 18, 2031. This larger, longer-dated facility is intended to enhance liquidity for working capital, operational needs, and global growth initiatives.

How does the amended credit facility affect Array Technologies’ liquidity?

The amended facility significantly expands Array’s available commitments to $370 million and adds up to $250 million for letters of credit. This larger capacity is designed to support liquidity for day-to-day operations, project guarantees, and funding for global growth initiatives as opportunities arise.

Which banks are involved in Array Technologies’ amended revolving credit facility?

Goldman Sachs Bank USA is Lead Arranger and Administrative Agent, with additional participation from J.P. Morgan, Wells Fargo, PNC, HSBC, Royal Bank of Canada, BNP Paribas, Morgan Stanley, and Jefferies. This diversified lending group supports the expanded $370 million facility.

What is the new maturity date of Array Technologies’ revolving credit facility?

The revolving credit facility’s maturity was extended from October 14, 2028 to February 18, 2031. This longer term gives Array Technologies more time before repayment is due, supporting long-term planning for liquidity and capital structure management.

How much of Array Technologies’ facility can be used for letters of credit?

The amended facility provides up to $250 million for letters of credit. These instruments can back project obligations and contracts, helping Array support global solar projects while preserving cash, within the overall $370 million revolving commitment.

Why did Array Technologies say it expanded its revolving credit facility?

Array stated the expansion is meant to strengthen liquidity, improve funding access, and support working capital, operational execution, and global growth initiatives. Management also links the increased capacity to efforts to optimize the company’s capital structure and balance sheet flexibility.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/18/2026 - 04:21 PM Learn about SEC filing dates

false 0001820721 0001820721 2026-02-18 2026-02-18

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): February 18, 2026

ARRAY TECHNOLOGIES, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware		001-39613		83-2747826
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

3901 Midway Place NE

Albuquerque, New Mexico 87109

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (505) 881-7567

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.001 Par Value		ARRY		Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On February 18, 2026, Array Tech, Inc. (f/k/a Array Technologies, Inc.) (the “Borrower”), a New Mexico corporation and wholly-owned subsidiary of Array Technologies, Inc. (the “Company”), entered into that certain Amendment No. 5 to Credit Agreement (the “Fifth Amendment”), by and among the Borrower, the Company’s wholly-owned subsidiary ATI Investment Sub, Inc., as holdings (“Holdings”), Goldman Sachs Bank USA, as administrative agent and collateral agent (“Goldman Sachs”), and the Lenders (as defined in the Fifth Amendment), to its credit agreement entered into on October 14, 2020, by and among the Borrower, Holdings, Goldman Sachs, and certain other lenders from time to time party thereto (the “Credit Agreement”). The Fifth Amendment: (i) increases the revolving credit facility commitments under the original Credit Agreement from $166,000,000 to $370,000,000; (ii) extends the maturity of the revolving credit facility from October 14, 2028 to February 18, 2031; (iii) removes the credit spread adjustment with respect to Term SOFR (as defined in the Credit Agreement); and (iv) expands the number of currencies under which the Borrower can request revolving credit loans and letters of credit.

The foregoing description of the terms of the Fifth Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Fifth Amendment, a copy of which is filed as Exhibit 10.1 and incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The disclosure provided in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03.

Item 7.01 Regulation FD Disclosure.

On February 18, 2026, the Company issued a press release announcing its entry into the Fifth Amendment. A copy of the press release is attached and furnished as Exhibit 99.1 to this Form 8-K.

The information provided in this Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1 hereto) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are filed as part of this report:

Exhibit No.		Description
10.1		Amendment No. 5 to Credit Agreement, dated February 18, 2026, by and among Array Tech, Inc., as borrower, ATI Investment Sub, Inc., as holdings, Goldman Sachs Bank USA, as administrative agent and collateral agent, and the Lenders (as defined therein) from time to time party thereto.
99.1		Press release from Array Technologies, Inc. dated February 18, 2026.
104		Cover Page Interactive Data File (embedded within the Inline XBRL).

1

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Array Technologies, Inc.
By:		/s/ Gina K. Gunning
Name:		Gina K. Gunning
Title:		Chief Legal Officer and Corporate Secretary

Date: February 18, 2026

2

Exhibit 99.1

February 18, 2026

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

and Strategic Flexibility

ALBUQUERQUE, NM — (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.

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EX-99.1 8.4 KB

Agreements & Contracts

• EX-10.1 EX-10.1 1.4 MB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 2.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 16.8 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 10.6 KB