{"schema_version":"secwatch.filing_event.v1","accession":"0001171843-25-005450","form_type":"8-K","ticker":"TPICQ","cik":"0001455684","company_name":"TPI COMPOSITES, INC","filed_at":"2025-08-15T23:59:59+00:00","discovered_at":"2026-05-14T18:02:44.023447+00:00","generated_at":"2026-05-17T12:22:51.505728+00:00","sec_items":["1.01","2.03","1.03","2.04","3.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"TPI Composites files Chapter 11; secures $82.5M DIP financing from Oaktree; expects stock cancellation","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001171843-25-005450","json":"https://secwatch.observer/filing/0001171843-25-005450.json","markdown":"https://secwatch.observer/filing/0001171843-25-005450.md","text":"https://secwatch.observer/filing/0001171843-25-005450.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1455684/000117184325005450/0001171843-25-005450-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1455684/000117184325005450/f8k_081525.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T12:22:51.505728+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"40bef8858200bef6d2108e1b93e81a82fce47b9f","claim":"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.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1455684/000117184325005450/0001171843-25-005450-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$135.3 million"},{"label":"Counterparty","value":"Convertible Note holders"},{"label":"Rate","value":"accrued and unpaid fees and interest"},{"label":"Maturity","value":"immediately due and payable"},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"},{"claim_id":"5f3f0ea549ca6c08b9ce7109d960221f2fb4392e","claim":"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.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1455684/000117184325005450/0001171843-25-005450-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$471.8 million"},{"label":"Counterparty","value":"lenders under Existing Credit Agreement"},{"label":"Rate","value":"accrued and unpaid fees and interest, plus paid-in-kind interest"},{"label":"Maturity","value":"immediately due and payable"},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"},{"claim_id":"73679055870565a1ae2541c5023ba2f82dbf2d9b","claim":"TPI COMPOSITES, INC faced acceleration on credit facility of €71.2 million with Turkish lenders at not specified maturing due and payable.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1455684/000117184325005450/0001171843-25-005450-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"€71.2 million"},{"label":"Counterparty","value":"Turkish lenders"},{"label":"Rate","value":"not specified"},{"label":"Maturity","value":"due and payable"},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"},{"claim_id":"a3cb4e51386bac266ed887ffb56279d60e9fe48a","claim":"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.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1455684/000117184325005450/0001171843-25-005450-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$82.5 million"},{"label":"Counterparty","value":"Oaktree Fund Administration, LLC"},{"label":"Rate","value":"SOFR + 9%, payable in kind; plus 2% upon default"},{"label":"Maturity","value":"nine months from the Petition Date"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"f7c1d60429946460760a904c290f065439d7f158","claim":"TPI COMPOSITES, INC entered chapter 11 in United States Bankruptcy Court for the Southern District of Texas (petition 2025-08-11).","evidence_excerpt":"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”).","evidence_source":"SEC 8-K Item 1.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1455684/000117184325005450/0001171843-25-005450-index.htm","confidence":0.9,"family_label":"Distress & Bankruptcy","details":[{"label":"Proceeding","value":"chapter 11"},{"label":"Court","value":"United States Bankruptcy Court for the Southern District of Texas"},{"label":"Petition","value":"2025-08-11"}],"fact_type":"distress_event"},{"claim_id":"59afcb744c6724442598768c458afc5b3f2783d8","claim":"TPI COMPOSITES, INC received a nasdaq delisting notice notice regarding other (rules 5101, 5110(b), IM-5101-1).","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 3.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1455684/000117184325005450/0001171843-25-005450-index.htm","confidence":0.9,"family_label":"Listing & Compliance Notices","details":[{"label":"Exchange","value":"nasdaq"},{"label":"Notice","value":"delisting notice"},{"label":"Rules","value":"5101, 5110(b), IM-5101-1"}],"fact_type":"exchange_compliance_notice"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}