TPI Composites, Inc. (TPIC) Announces Up to $600M Investment by Oaktree
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TPI Composites, Inc. Announces up to $600 Million Capital Investment from Oaktree – Strengthens Liquidity Position and Supports Long Term Strategy and Prospects
November 8, 2021 4:50 PM ESTSCOTTSDALE, Arizona, Nov. 08, 2021 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (Nasdaq: TPIC), the only independent manufacturer of composite wind blades with a global footprint, announced today that it has entered into a stock purchase agreement to issue and sell $400 million of Series A Preferred Stock to investment funds managed by Oaktree Capital Management (Oaktree). Under the terms of the stock purchase agreement, TPI will issue and sell $350 million of Series A Preferred Stock to Oaktree, subject to customary closing conditions. TPI also may elect at its option to require Oaktree to purchase an... More
