TPI Composites files Chapter 11; secures $82.5M DIP financing from Oaktree; expects stock cancellation

TPI COMPOSITES, INC

Filed voluntary Chapter 11 petitions on August 11, 2025; cases jointly administered in Southern District of Texas.
Secured $82.5M DIP facility: $7.5M interim new money, up to $20M final new money, plus $55M roll-up of existing term loan.
Existing debt accelerated: ~$471.8M Senior Secured Term Loan and ~$135.3M Convertible Notes; Turkish debt ~€71.2M.
Nasdaq notified delisting; trading suspended August 19, 2025; company expects common stock to receive no distribution.
Company will operate as debtor-in-possession with Oaktree expected to become new owners after restructuring.

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