Simpson Thacher is representing Blackstone in connection with its entry into an agreement with Array Technologies, Inc. (NASDAQ: ARRY) to purchase up to $500 million of Array’s perpetual preferred stock. Under the terms of the agreement, Array will sell $350 million of perpetual preferred stock to Blackstone at the initial closing and, at Array’s option, up to an additional $150 million of perpetual preferred stock at any time prior to June 30, 2023. Subject to the receipt of certain regulatory approvals, Blackstone will receive 7.875 million shares of Array’s common stock representing approximately 5.8% of shares outstanding.~~Array is a leading global technology company providing tracker solutions and services for utility-scale solar energy projects as one of the world’s largest manufacturers of ground-mounted systems.~~The Simpson Thacher team includes Christopher May, Anthony Vernace, Izaak Lustgarten and Siwei Yang (M&A); Jonathan Ozner (Capital Markets); Jonathan Goldstein, Sophie Staples and Ed Grais (Tax); Steven Klar (Funds); Jonathan Lindabury and Caitlin Wood (Derivatives/Backleverage); Greg Grogan and Scott Schilson (Executive Compensation and Employee Benefits); Peter Guryan and Kelly Karapetyan (Antitrust); Lori Lesser and Samuel Watters (Intellectual Property); and Adeeb Fadil (Environmental).