STR Holdings: Pricing of Secondary Public Offering
STR Holdings, Inc., announced that the secondary offering of 7,000,000 shares of its common stock on behalf of certain stockholders has been priced at $18.75 per share. The closing of the offering is expected to take place on April 21, 2010, subject to customary closing conditions. In addition, the selling stockholders have granted the underwriters an option to purchase up to 1,050,000 additional shares at the public offering price.
STR Holdings will not receive any proceeds from the offering.
Credit Suisse and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Cowen and Company, Lazard Capital Markets and Macquarie Capital are 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, 200 West Street, New York, New York 10282; telephone (866) 471-2526, facsimile (212) 902-9316 or by emailing firstname.lastname@example.org.
A registration statement relating to these securities has been filed with 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 offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About STR Holdings, Inc.
STR Holdings, Inc. is a leading global provider of high quality, superior performance solar encapsulants to the photovoltaic module industry. It is also one of the world's leading providers of consumer product quality assurance testing, audit, inspection and responsible sourcing services, which ensures that suppliers and retailers have the highest level of confidence in the quality and safety of their products and in the social standards of the supply chain producing them.
Forward Looking Statements
This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current information and expectations, and are subject to risks and uncertainties discussed in Company filings with the Securities and Exchange Commission, which could cause the Company's actual results to differ materially from expected results. The Company undertakes no obligation to publicly update any forward-looking statement contained in this release, whether as a result of new information, future developments or otherwise, except as may be required by law.
STR Holdings, Inc.
Barry A. Morris, Executive Vice President and Chief Financial Officer