SCOTTSDALE, Ariz., July 21, 2016 (GLOBE NEWSWIRE) -- 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.
This 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.
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Source:TPI Composites, Inc.