1 unchanged sentence
Market Information
−Removed: Our Common Stock, par value $0.001 per share, began trading on the NASDAQ Global Market under the symbol “ARRY” on October 15, 2020.
+Added: Our Common Stock, par value US$0.001 per share, began trading on the Nasdaq Global Market under the symbol “ARRY” on October 15, 2020.
Prior to that date, there was no public trading market for our common stock.
8 unchanged sentences
Stock Performance Graph
+Added: The following graph compares the five-year cumulative total return on our common stock relative to the cumulative total returns of and Russel 2000 Index, our 2020 Peer Group Index and our 2021 Peer Group Index, which both represent a peer group of solar companies.
+Added: For purposes of the graph, an investment of $100 (with reinvestment of all dividends) is assumed to have been made in our common stock, the Russel 2000 Index and our 2020 Peer Group and 2021 Peer Group on October 15, 2020, and its relative performance is tracked through December 31, 2021.
+Added: This graph is not “soliciting material,” is not deemed filed with the SEC, and is not to be incorporated by reference in any filing by us under the Securities Act or the Exchange Act, whether made before or after the date hereof, and irrespective of any general incorporation language in any such filing.
+Added: The stock price performance shown in the graph represents past performance and is not necessarily indicative of future stock price performance.
Recent Sales of Unregistered Equity Securities
+Added: Series A Redeemable Perpetual Preferred
+Added: On August 10, 2021, the Company entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) pursuant to which on August 11, 2021, the Company issued and sold to certain investors (the “Purchasers”) 350,000 shares of a newly designated Series A Redeemable Perpetual Preferred Stock of the Company, par value $0.001 per share (the “Series A Redeemable Perpetual Preferred Stock”), and 7,098,765 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), for an aggregate purchase price of $346.0 million (the “Initial Closing”).
+Added: Further, pursuant to the Securities Purchase Agreement, the Company issued and sold to the Purchaser 776,235 shares of Common Stock for an aggregate purchase price of $776.
+Added: The Company used net proceeds from the Initial Closing of $334.6 million to repay all of the outstanding amounts under the Company’s existing Revolving Credit Facility (as defined below) and prepaid $100 million under the Company’s Term Loan Facility (as defined below) and for general corporate purposes.
+Added: The Purchaser is entitled to designate one representative to be appointed to the Company’s board of directors, and to appoint three non-voting observers to the board of directors, in each case until such time as the Purchaser no longer beneficially own shares of the Series A Redeemable Perpetual Preferred Stock with at least $100 million aggregate Liquidation Preference (as defined below).
+Added: The Series A Redeemable Perpetual Preferred Stock has no maturity date.
+Added: The securities issued pursuant to the Securities Purchase Agreement were offered, issued and sold in reliance upon the exemption from the registration requirements of the Securities Act set forth under Section 4(a)(2) of the Securities Act.
+Added: For more information regarding the Series A Redeemable Perpetual Preferred Stock and our unregistered sales of equity securities, see Note 11 - Redeemable Perpetual Preferred and Note 10 - Convertible Debt in the accompanying consolidated financial statements.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
−Removed: Selected Financial Data.
−Removed: Consolidated Statements of Operations Data:
−Removed: Year Ended December 31,
−Removed: 2020 2019 2018
−Removed: Revenues $ 872,662 $ 647,899 $ 290,783
−Removed: Gross profit $ 202,801 $ 150,761 $ 11,555
−Removed: Net Income (Loss) $ 59,073 $ 39,745 $ (60,764)
−Removed: Earnings (Loss) per Share
−Removed: Basic and Diluted $ 0.49 $ 0.33 $ (0.51)
−Removed: Consolidated Balance Sheet Data:
−Removed: 2020 2019 2018
−Removed: Total assets $ 656,024 $ 923,581 $ 509,861
−Removed: Long-term liabilities $ 447,820 $ 27,810 $ 110,816
−Removed: Total liabilities $ 736,923 $ 618,430 $ 245,387
−Removed: Total member’s equity/stockholders’ deficit $ (80,899) $ 305,151 $ 264,474
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.