STR Announces Final Results of Its Tender Offer
07 März 2014 - 2:10PM
STR Holdings, Inc. (NYSE:STRI) (the "Company") today announced the
final results of its modified "Dutch auction" tender offer (the
"Offer"), which expired at 11:59 p.m. New York City time, on
Monday, March 3, 2014.
The Company has accepted for purchase 15,611,958 shares of the
Company's common stock at a purchase price of $1.54 per share, for
an aggregate purchase price of $24,042,415.32, excluding fees and
expenses relating to the Offer. These shares represent
approximately 37.3% of the total number of shares of Company common
stock issued and outstanding as of March 5, 2014. The Company
funded its purchase of the shares tendered in the Offer using a
portion of its cash and cash equivalents.
The Company's depositary for the tender offer, Broadridge
Corporate Issuer Solutions, Inc., will promptly pay for the shares
accepted for purchase. The Company is purchasing all shares
validly tendered and not withdrawn in the tender offer.
Cowen and Company, LLC served as dealer manager for the tender
offer, and Georgeson Inc. served as information agent for the
tender offer. For more information about the tender offer,
please contact Georgeson Inc. toll-free at +1 888-877-5373.
About STR
STR Holdings, Inc. is a provider of encapsulants to the
photovoltaic module industry. Further information about STR
Holdings, Inc. can be obtained via the Company's website at
www.strsolar.com.
Safe Harbor Statement
This press release and any oral statement made in respect of the
information in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements are subject to inherent risks
and uncertainties, including but not limited to the risks and
uncertainties described under "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in our periodic reports on Forms 10-K, 10-Q and 8-K
filed from time to time with the U.S. Securities and Exchange
Commission. You are urged to carefully review and consider the
disclosure found in our filings which are available on
http://www.sec.gov or http://www.strsolar.com. These
forward-looking statements present the Company's current
expectations and projections relating to its financial condition,
results of operations, plans, objectives, future performance and
business and are based upon assumptions that the Company has made
in light of its industry experience and perceptions of historical
trends, current conditions, expected future developments and other
factors management believes are appropriate under the
circumstances. However, these forward-looking statements are not
guarantees of future performance or financial or operating results.
The Company undertakes no obligation to publicly update any
forward-looking statements contained in this release, whether as a
result of new information, future developments or otherwise, except
as may be required by law.
CONTACT: Joseph C. Radziewicz
Vice President and Chief Financial Officer
STR Holdings, Inc.
(860) 763-7014, x7437
joseph.radziewicz@strholdings.com
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