Broadwind Energy Files Registration Statement for Common Share Offering Net proceeds to repay portion of debt and fund general corporate purposes, including capital expenditures to grow services businesses

NAPERVILLE, Ill., Oct 30, 2009 (BUSINESS WIRE) -- Broadwind Energy, Inc.

(NASDAQ: BWEN) today announced that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed public offering of 15,000,000 shares of its common stock. In this offering, Broadwind proposes to sell 10,000,000 shares and Tontine Capital Partners, L.P., and certain of its affiliated funds (Tontine), propose to sell 5,000,000 shares. The underwriters have the option to purchase from Tontine and Broadwind CEO, J. Cameron Drecoll, up to an additional 2,250,000 shares of common stock on the same terms and conditions to cover over-allotments, if any.

Broadwind expects to use its anticipated net proceeds from its share of the offering to repay a portion of its outstanding debt and the remainder for general corporate purposes, including capital expenditures to grow the Company's services businesses.

Each of Broadwind's executive officers and directors is expected to agree not to transfer shares of Broadwind common stock until ninety days following the pricing of the offering, subject to certain exceptions and the extension of the restricted period under certain circumstances. Accordingly, Mr. Drecoll has terminated his previously filed Rule 10b5-1 sales trading plan for shares of the Company's common stock. Additionally, Tontine Capital Partners, L.P., and certain of its affiliated funds, is expected to agree not to transfer shares of Broadwind common stock until sixty days following the pricing of the offering, subject to certain exceptions and the extension of the restricted period under certain circumstances.

The book-running manager of the proposed offering is Macquarie Capital (USA) Inc.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Once available, a preliminary prospectus relating to these securities may be obtained from Macquarie Capital (USA) Inc., Attn: Prospectus Department, 125 West 55th St, 22nd Floor, New York, NY 10019, or by calling +1.866.965.7622, or by e-mailing [e-mail].

About Broadwind Energy, Inc.

Naperville, Illinois-based Broadwind Energy, Inc. (NASDAQ: BWEN) is the leading independent, horizontally integrated supplier of specialized products and services focused on the North American wind industry. Broadwind's products and services include: precision gearing systems and structural towers for wind turbines; gears, fabrications and weldments for industrial customers; and technical services, precision repair and engineering, and logistics for wind energy customers. For more information on Broadwind Energy, please visit www.broadwindenergy.com.

SOURCE: Broadwind Energy, Inc.

CONTACT: MEDIA & INVESTOR CONTACT: Broadwind Energy, Inc. John Segvich, +1.630.637.0315. [e-mail] Copyright Business Wire 2009 -0- KEYWORD: United States

North America

Illinois INDUSTRY KEYWORD: Energy

Alternative Energy

Other Energy

Manufacturing

Engineering

Other Manufacturing SUBJECT CODE: Filing

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