STR Holdings, Inc. (NYSE: STRI) today announced that the underwriters of its initial public offering of 12,300,000 shares, which closed on November 12, 2009, have partially exercised the over-allotment option granted by the selling stockholders and have purchased an additional 1,695,000 shares at the initial public offering price of $10 per share. The closing of the over-allotment option occurred today. STR will not receive any of the proceeds from the sale of the shares as a result of the exercise of the over-allotment option.
Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. acted as joint book-running managers for the offering. Cowen and Company, LLC, Jefferies & Company, Inc., Lazard Capital Markets LLC and Macquarie Capital (USA) Inc. 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 diversified global leader providing high quality, superior performance solar encapsulants to the photovoltaic module industry. It is also one of the world's top providers of quality assurance testing, audit, inspection and responsible sourcing services. STR works with over 6,000 major manufacturers, importers, raw materials suppliers and retailers around the globe to ensure that they have the highest level of confidence in the quality and safety of their products and the social standards of the supply chain producing them. Further information about STR Holdings, Inc. can be obtained via the Company's website at www.strholdings.com.
Forward Looking Statements
This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company's results of operation, financial position and long-term strategy. These forward-looking statements are based on current information and expectations, and are subject to risks and uncertainties discussed in our 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.
Contacts:
STR Holdings, Inc.
Barry A. Morris, Executive Vice President and
Chief Financial Officer
860-749-8371
barry.morris@strus.com
or
Joseph
C. Radziewicz, Controller and Principal Accounting Officer
860-749-8371
joseph.radziewicz@strus.com
