TPI Composites Priced, Nasdaq: TPIC

Largest independent US manufacturer of composite wind blades.

Industry: Industrials

Latest Trade: $18.67 0.00 (0.0%)

First Day Return: +23.3%

Return from IPO: +69.7%

Industry: Industrials

We are the largest U.S.-based independent manufacturer of composite wind blades. We enable many of the industry’s leading wind turbine original equipment manufacturers, or OEMs, who have historically relied on in-house production, to outsource the manufacturing of some of their wind blades through our global footprint of advanced manufacturing facilities strategically located to serve large and growing wind markets in a cost-effective manner. Given the importance of wind energy capture, turbine reliability and cost to power producers, the size, quality and performance of wind blades have become highly strategic to our OEM customers. As a result, we have become a key supplier to our OEM customers in the manufacture of wind blades and related precision molding and assembly systems. We have entered into long-term supply agreements pursuant to which we dedicate capacity at our facilities to our customers in exchange for their commitment to purchase minimum annual volumes of wind blade sets, which consist of three wind blades. As of March 31, 2016, our long-term supply agreements provide for estimated minimum aggregate volume commitments from our customers of $1.5 billion and encourage our customers to purchase additional volume up to, in the aggregate, an estimated total contract value of over $3.0 billion through the end of 2021. This collaborative dedicated supplier model provides us with contracted volumes that generate significant revenue visibility, drive capital efficiency and allow us to produce wind blades at a lower total delivered cost, while ensuring critical dedicated capacity for our customers.
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IPO News for TPI Composites
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IPO Data
IPO File Date 06/17/2016
Offer Price $11.00
Price Range $15.00 - $17.00
Offer Shares (mm) 6.3
Deal Size ($mm) $69
IPO Data
IPO Date 07/21/2016
Offer Price $11.00
Price Range $15.00 - $17.00
Offer Shares (mm) 6.3
Deal Size ($mm) $69
Underwriters
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Company Data
Headquarters Scottsdale, AZ
Founded 1968
Employees 6,000
Website www.tpicomposites.com