STR Holdings, Inc. Prices Its Initial Public Offering
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.
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