The Company and its affiliates have entered into manufacturing arrangements and purchase agreements with Sellers and their affiliates. Under the India Purchase Agreement, the agreement may be terminated if the India APA Transaction is not completed by June 30, 2026, or if Buyer Parent ceases providing agreed payment advances.
Regarding the Vestas Mexico Transaction, subsidiaries TPI Mexico V, LLC and TPI Mexico VI, LLC executed an Equity Commitment Agreement with Vestas America Holdings, Inc. and Buyer Parent. This agreement involves restructuring the capital and liabilities of the TPI Mexico Entities, with new equity interests issued to Vestas America Holdings, Inc. in exchange for $13,999,999 in cash. The transaction is subject to closing conditions, including approval by the Bankruptcy Court and the release of liens.
Simultaneously, the Company and its subsidiaries, referred to as the Mexico APA Sellers, entered into an Asset Purchase Agreement with Vestas America Holdings, Inc. to sell certain assets related to the manufacturing of wind turbine blades in Matamoros, Mexico. The sale price is $1.00, along with the assumption of specified liabilities. Termination conditions for these agreements include failure to obtain required court approvals or payment advances by specified dates in 2026.
Suppliers referenced in these filings include Oaktree Fund Administration, LLC, TPI Mexico V, LLC, TPI Mexico VI, LLC, and Vestas America Holdings, Inc.
Tpi Composites Inc's Comment on Supply Chain
The Company and its affiliates have entered into manufacturing arrangements and purchase agreements with Sellers and their affiliates. Under the India Purchase Agreement, the agreement may be terminated if the India APA Transaction is not completed by June 30, 2026, or if Buyer Parent ceases providing agreed payment advances.
Regarding the Vestas Mexico Transaction, subsidiaries TPI Mexico V, LLC and TPI Mexico VI, LLC executed an Equity Commitment Agreement with Vestas America Holdings, Inc. and Buyer Parent. This agreement involves restructuring the capital and liabilities of the TPI Mexico Entities, with new equity interests issued to Vestas America Holdings, Inc. in exchange for $13,999,999 in cash. The transaction is subject to closing conditions, including approval by the Bankruptcy Court and the release of liens.
Simultaneously, the Company and its subsidiaries, referred to as the Mexico APA Sellers, entered into an Asset Purchase Agreement with Vestas America Holdings, Inc. to sell certain assets related to the manufacturing of wind turbine blades in Matamoros, Mexico. The sale price is $1.00, along with the assumption of specified liabilities. Termination conditions for these agreements include failure to obtain required court approvals or payment advances by specified dates in 2026.
Suppliers referenced in these filings include Oaktree Fund Administration, LLC, TPI Mexico V, LLC, TPI Mexico VI, LLC, and Vestas America Holdings, Inc.
Sources:
Tpi Composites Inc 's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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