Credit Suisse, Goldman Sachs book-run STR Holdings IPO

6 November 2009 - Credit Suisse and Goldman Sachs & Co were joint managing underwriters for STR Holdings Inc's (NYSE: STRI) initial public offering (IPO) of common stock, the US-based solar panel encapsulation specialist said.

The offering consists of 12,300,000 shares, each priced at USD10 (EUR6.728). The shares are trading under the ticker symbol "STRI" on the New York Stock Exchange.

Co-managers of the transaction were Cowen and Company, Jefferies & Company, Lazard Capital Markets and Macquarie Capital (USA).

The offering should end on 12 November 2009.

The company is selling a total of 3,300,000 shares, while the rest, from which it will not receive proceeds, are provided by selling stockholders.

The underwriters can benefit from a 30-day option granted by the selling shareholders to buy a maximum of 1,845,000 more shares at the IPO price to deal with potential over-allotments, STR Holdings said.

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