Broadwind sells up to $16M in IRA tax credits to MarketAxess, boosts liquidity

BROADWIND, INC.

Initial $6.5M payment received for 2023 credits; balance due Feb 29, 2024.
Quarterly sale of 2024 Section 45X tax credits to MarketAxess per agreement.
Broker fee of 1% of gross amounts plus legal fees; parent guaranty executed.
CEO states monetization will significantly improve liquidity entering 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BROADWIND, INC. entered into Tax Credit Transfer Agreement with MarketAxess Holdings Inc. valued at up to $16,000,000 (effective 2023-12-21).

Action: entry
Counterparty: MarketAxess Holdings Inc.
Value: up to $16,000,000
Effective: 2023-12-21

Exact text from the filing

On December 21, 2023 (the “Effective Date”), Broadwind Heavy Fabrications, Inc. (“BHF”), a wholly owned subsidiary of Broadwind, Inc. (the “Company”), entered into a Tax Credit Transfer Agreement (the “Agreement”) with MarketAxess Holdings Inc. (the “Purchaser”).

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BROADWIND, INC. filing history →

Source: SEC EDGAR

accession 0001437749-23-035360

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