Originally published Tuesday, September 7, 2010 at 4:43 AM
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GT Solar stakeholder selling 10 million shares
GT Solar International Inc. said Tuesday a shareholder is offering 10 million shares of common stock.
The Associated Press
MERRIMACK, N.H. —
GT Solar International Inc. said Tuesday a shareholder is offering 10 million shares of common stock.
The selling stockholder has also granted the underwriters an option to buy up to 1.5 million additional shares to cover excess demand.
Concurrently with the offering, the selling stockholder has entered into agreements to sell up to 15 million additional shares of stock to UBS Securities LLC and one of its affiliates in connection with an offering by UBS AG of its Mandatory Exchangeable Notes due 2013.
GT Solar International will not receive any proceeds from either offering, but will pay the expenses of the selling shareholder.
UBS Securities LLC, Credit Suisse Securities LLC and BofA Merrill Lynch are the joint bookrunning managers for the stock offering and UBS Securities LLC is the sole bookrunner and underwriter for the exchangeable notes offering.
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