Broadwind Energy Inc. (BWEN) announced that it has commenced an underwritten public offering of 15 million shares of its common stock, par value $0.001 per share. In this offering, Broadwind will sell 10 million newly issued shares and Tontine Capital Partners, L.P., and certain of its affiliated funds, will sell a combined total of 5 million shares.
The underwriters will be granted a 30-day option to purchase from the selling stockholders up to an additional 2.25 million shares of common stock, on the same terms and conditions, to cover over-allotments, if any.
Broadwind said that it intends to use about $16.0 million of the net proceeds from the offering to repay its outstanding indebtedness under its credit facilities with Bank of America and to use the remaining proceeds for general corporate purposes. Broadwind will not receive any of the proceeds from the offering of common stock by the selling stockholders.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.