Core Points - TPI Composites, Inc. has initiated voluntary chapter 11 proceedings to pursue a comprehensive restructuring aimed at emerging as a stronger enterprise [2][3] - The company has secured a debtor-in-possession financing facility of up to $82.5 million from senior secured lenders, including Oaktree Capital Management, to support operations during the restructuring process [2][3] - TPI will continue normal operations throughout the chapter 11 process, ensuring no material operational impact [3][4] Financial Support and Restructuring - The DIP financing includes up to $27.5 million in new money for day-to-day operations and up to $55 million rolled up from the existing senior secured credit facility [2] - The anticipated cash collateral to be used is approximately $50 million, reflecting the lenders' confidence in the company's future [2] - The company aims to reach an agreement with stakeholders on a reorganization plan to right-size its balance sheet and enhance competitiveness [3] Operational Continuity - TPI will continue to honor obligations to key stakeholders, including employee wages and supplier payments, during the chapter 11 proceedings [4] - The company emphasizes its commitment to serving customers and collaborating with suppliers while maintaining manufacturing operations [3][4] Company Overview - TPI Composites is focused on innovative and sustainable solutions in the wind energy sector, operating globally with manufacturing facilities in the U.S., Mexico, Türkiye, and India [7] - The company has established long-term relationships with leading OEMs in the wind markets, positioning itself for future growth [7]