Broadwind Energy unveils stock issuance plan

Sep 16, 2011 - Broadwind Energy Inc (NASDAQ:BWEN), a US provider of products and services to the wind power sector, announced on Thursday it would sell common shares, depending on market conditions.

The securities will be issued within the company's effective shelf registration but the exact size, pricing and timing will be set further.

The company said it had hired Lazard Capital Markets LLC to act as the sole book-running manager for the transaction.

Broadwind Energy intends to use the raised funds in support of its overall business activities.

In August the company reported second-quarter sales of USD 39.3 million (EUR 28.5m), up 17% from the same period of 2010, largely due to a 48% rise in its tower segment revenues following a pick-up in demand.

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