TPI Composites sells India/Mexico wind blade assets to Vestas for ~$24M; DIP default triggered

TPI COMPOSITES, INC

India asset sale to Vestas for $10M cash; closing subject to Bankruptcy Court approval by June 30, 2026.
Mexico restructuring: Vestas America to acquire TPI Mexico V/VI equity for ~$14M plus $1 asset purchase.
DIP Credit Agreement Event of Default because no Disclosure Statement Order entered; default interest accrues.
Agreements include termination of existing Vestas commercial deals and mutual releases.
TPI continues Chapter 11 operations; asset sales provide liquidity under DIP financing.

item 1.01 item 2.04 item 9.01

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filed_at: 2026-03-05T23:59:59+00:00
discovered_at: 2026-05-14T18:02:35.114621+00:00
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accession 0001193125-26-094276

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