Contact Information: Investors: Joseph Radziewicz Controller and Principal Accounting Officer (860) 749-8371 Ina McGuinness, ICR (310) 954-1100 Media: Michael Fox, ICR (203) 682-8218
STR Holdings, Inc. Prices Its Initial Public Offering
| Source: Specialized Technology Resources (STR)
ENFIELD, CT--(Marketwire - November 8, 2009) - 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 $XX.XX per share. The shares will begin 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 10. Of the shares being
sold, 2,300,000 are being offered by the Company and 10,000,000 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.