TPI Composites Prices Initial Public Offering
July 21 2016 - 7:51PM
TPI Composites, Inc. (“TPI”) today announced the pricing of its
initial public offering of 6,250,000 shares of common stock at a
price to the public of $11.00 per share. In addition, TPI has
granted the underwriters a 30-day option to purchase up to 937,500
additional shares of common stock from TPI at the initial public
offering price, less underwriting discounts and commissions. TPI’s
initial public offering is a 100% primary offering.
The shares are expected to begin trading on The NASDAQ Global
Market under the symbol “TPIC” on July 22, 2016. The offering is
expected to close on July 27, 2016, subject to customary closing
conditions.
J.P. Morgan and Morgan Stanley are acting as joint book-running
managers for the offering. Cowen and Company, Raymond James and
Canaccord Genuity are acting as co-managers.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
July 21, 2016. This offering is being made only by means of the
written prospectus forming part of the effective registration
statement. When available, you may request a copy of the final
prospectus relating to this offering by contacting: J.P. Morgan
Securities LLC, Attention: Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, or by telephone at (866)
803-9204; or Morgan Stanley & Co. LLC, Attention: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About TPI Composites, Inc.TPI Composites, Inc.
is the largest U.S.-based independent manufacturer of composite
wind blades for the wind energy market. TPI delivers high-quality,
cost-effective composite solutions through long term relationships
with leading wind turbine manufacturers. TPI is headquartered in
Scottsdale, Arizona and operates factories throughout the U.S.,
Mexico, China and Turkey.
Forward-Looking StatementsThis press release
contains certain forward-looking statements, including statements
with regard to TPI’s proposed securities offering. Forward-looking
statements generally relate to future events or our future
financial or operating performance. In some cases, you can identify
forward-looking statements because they contain words such as
“may”, “will”, “should”, “expects”, “plans”, “anticipates”,
“could”, “intends”, “target”, “projects”, “contemplates”,
“believes”, “estimates”, “predicts”, “potential” or “continue” or
the negative of these words or other similar terms or expressions
that concern our expectations, strategy, plans or intentions. The
consummation of the proposed securities offering and the terms
thereof are subject to numerous factors, many of which are beyond
the control of TPI, including, without limitation, market
conditions, failure of closing conditions and risks and other
matters set forth in TPI’s Registration Statement on Form S-1. You
should not place undue reliance upon forward-looking statements as
predictions of future events. TPI has based the forward-looking
statements contained in this press release on its current
expectations and projections about future events and trends that it
believes may affect its business, financial condition, results of
operations and prospects. TPI cannot assure you that the results,
events and circumstances reflected in the forward-looking
statements will be achieved or occur, and actual results, events,
or circumstances could differ materially from those described in
the forward-looking statements. The forward-looking statements made
in this press release relate only to events as of the date on which
the statements are made. TPI undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
may be required by law.
Investor Contact:
investors@tpicomposites.com
480-315-8742
TPI Composites (NASDAQ:TPIC)
Historical Stock Chart
From May 2024 to Jun 2024
TPI Composites (NASDAQ:TPIC)
Historical Stock Chart
From Jun 2023 to Jun 2024