This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Broadwind Energy Files Registration Statement for Common Share Offering 2009-10-30 17:40 ET - News Release
Net proceeds to repay portion of debt and fund general corporate
purposes, including capital expenditures to grow services businesses
NAPERVILLE, Ill. -- (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.
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