ENFIELD, Conn.--(Business Wire)--
STR Holdings, Inc. (NYSE: STRI) today announced that the initial public offering
of 12,300,000 shares of its common stock has been priced at $10.00 per share.
The shares began trading today on The New York Stock Exchange under the ticker
symbol "STRI." The closing of the offering is expected to take place on November
12. Of the shares being sold, 3,300,000 are being offered by the Company and
9,000,000 shares are being offered by selling stockholders. In addition, the
selling stockholders have granted the underwriters a 30-day option to purchase
up to an additional 1,845,000 shares at the initial public offering price to
cover over-allotments, if any. The Company will not receive any of the proceeds
from the sale of shares by the selling stockholders.
Credit Suisse and Goldman, Sachs & Co. acted as joint book-running managers for
the offering. Cowen and Company, Jefferies & Company, Lazard Capital Markets and
Macquarie Capital (USA) acted as co-managers of the offering. The offering of
these securities is being made only by means of a prospectus, copies of which
may be obtained from Credit Suisse Securities (USA) LLC, Attn: Prospectus
Department, One Madison Avenue 1B, New York, New York, 10010; telephone (800)
221-1037; or Goldman, Sachs & Co., Attention: Prospectus Department, 85 Broad
Street, New York, New York 10004; telephone (866) 471-2526, facsimile (212)
902-9316 or by emailing prospectus-ny@ny.email.gs.com.
A registration statement relating to these securities has been filed and
declared effective by the Securities and Exchange Commission. 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.
About STR
STR Holdings, Inc. is a leading global provider of encapsulants to the solar
module industry. It is also a leader in the consumer products quality assurance
market, providing inspection, testing and audit services to retailers and
manufacturers, around the globe to enable them to determine whether their
products and facilities meet applicable, safety, regulatory, quality,
performance, and social standards.
Investors:
STR Holdings, Inc.
Joseph Radziewicz
Controller and Principal Accounting Officer
(860) 749-8371
or
ICR
Ina McGuinness
(310) 954-1100
or
Media:
ICR
Michael Fox
(203) 682-8218
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