secwatch / observer
8-K filed August 15, 2025, 7:59 PM ET ticker TPICQ CIK 0001455684
other material confidence high sentiment negative materiality 1.00

TPI COMPOSITES, INC (TPICQ): Nasdaq/NYSE listing notice — TPI Composites files Chapter 11; secures $82.5M DIP financing from Oaktree; expects stock cancellation

TPI COMPOSITES, INC

item 1.01item 2.03item 1.03item 2.04item 3.01item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

TPI COMPOSITES, INC faced acceleration on convertible notes of $135.3 million with Convertible Note holders at accrued and unpaid fees and interest maturing immediately due and payable.

Instrument
convertible notes
Principal
$135.3 million
Counterparty
Convertible Note holders
Rate
accrued and unpaid fees and interest
Maturity
immediately due and payable
Event
acceleration
Exact text from the filing
The commencement of the Chapter 11 Cases constituted an event of default that accelerated all of the Company’s obligations under the documents governing the Existing Credit Agreement and the 5.25% Convertible Senior Unsecured Notes (the “Convertible Notes”), amounting to borrowings of approximately $471.8 million and $135.3 million, respectively, as of the Petition Date.
View on SEC.gov
Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

TPI COMPOSITES, INC faced acceleration on term loan of $471.8 million with lenders under Existing Credit Agreement at accrued and unpaid fees and interest, plus paid-in-kind interest maturing immediately due and payable.

Instrument
term loan
Principal
$471.8 million
Counterparty
lenders under Existing Credit Agreement
Rate
accrued and unpaid fees and interest, plus paid-in-kind interest
Maturity
immediately due and payable
Event
acceleration
Exact text from the filing
The commencement of the Chapter 11 Cases constituted an event of default that accelerated all of the Company’s obligations under the documents governing the Existing Credit Agreement and the 5.25% Convertible Senior Unsecured Notes (the “Convertible Notes”), amounting to borrowings of approximately $471.8 million and $135.3 million, respectively, as of the Petition Date.
View on SEC.gov
Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

TPI COMPOSITES, INC faced acceleration on credit facility of €71.2 million with Turkish lenders at not specified maturing due and payable.

Instrument
credit facility
Principal
€71.2 million
Counterparty
Turkish lenders
Rate
not specified
Maturity
due and payable
Event
acceleration
Exact text from the filing
cash held in its Turkish bank accounts with these lenders. The obligations of the Company’s Turkish subsidiaries due and payable under such facilities amount to approximately €71.2 million as of the Petition Date. The Company expects that the debts under the Turkish unsecured credit facilities will be addressed in connection with a liquidation of the Turkish
View on SEC.gov
Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

TPI COMPOSITES, INC incurred credit facility of $82.5 million with Oaktree Fund Administration, LLC at SOFR + 9%, payable in kind; plus 2% upon default maturing nine months from the Petition Date.

Instrument
credit facility
Principal
$82.5 million
Counterparty
Oaktree Fund Administration, LLC
Rate
SOFR + 9%, payable in kind; plus 2% upon default
Maturity
nine months from the Petition Date
Event
incurrence
Exact text from the filing
pursuant to the Chapter 11 Cases. The DIP Lenders have agreed to provide the Company with a multiple draw term loan facility in an aggregate principal amount not to exceed $82.5 million (the “DIP Facility”). Under the DIP Facility, (i) $7.5 million of new money is available pursuant to the order of the Bankruptcy Court approving the DIP Facility on an interim
View on SEC.gov
Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

TPI COMPOSITES, INC entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas (petition 2025-08-11).

Proceeding
chapter 11
Court
United States Bankruptcy Court for the Southern District of Texas
Petition
2025-08-11
Exact text from the filing
On August 11, 2025 (the “Petition Date”), TPI Composites, Inc. (the “Company”) and certain of its direct and indirect subsidiaries (collectively with the Company, the “Company Parties” or the “Debtors”) each filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code” and such cases, the “Chapter 11 Cases”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”).
View on SEC.gov
Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

TPI COMPOSITES, INC received a nasdaq delisting notice notice regarding other (rules 5101, 5110(b), IM-5101-1).

Exchange
nasdaq
Notice
delisting notice
Rules
5101, 5110(b), IM-5101-1
Exact text from the filing
August 12, 2025, the Company received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the Nasdaq Staff has determined that the Company’s common stock, par value $0.01 per share (the “Common Stock”) will be delisted from the Nasdaq in accordance with Listing Rules 5101, 5110(b), and IM-5101-1 as a result of the Company’s commencement of the Chapter 11 Cases.. The Company does not intend to appeal this determination. Trading of the Company’s Common Stock will be suspended at the opening of business on August 19, 2025, and a
View on SEC.gov

88 debt financings filed in the last 30 days. Browse all debt financings →

TPI COMPOSITES, INC filing history →

Source: SEC EDGAR
accession 0001171843-25-005450
view filing index on sec.gov
view primary document
Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.