ENFIELD, Conn., Apr 15, 2010 (BUSINESS WIRE) --STR Holdings, Inc. (NYSE: STRI), today 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 prospectus-ny@ny.email.gs.com.
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.
SOURCE: STR Holdings, Inc.
STR Holdings, Inc.
Barry A. Morris, Executive Vice President and Chief Financial Officer
(860) 749-8371
barry.morris@strus.com
or
ICR Inc.
Ina McGuinness, Investor Relations Consultant
(310) 954-1100
ina@icrinc.com
