Baird served as lead joint book-running manager on this offering
AboutTecnoglass Inc. (“Tecnoglass” or “the Company”) (NASDAQ:TGLS) recently announced the pricing of a follow-on offering of 5,000,000 ordinary shares at a price of $7.00 per share generating gross proceeds to the Company of approximately $35.0 million. In addition, Tecnoglass has granted the underwriters a 30-day option to purchase up to an additional 750,000 ordinary shares at the public offering price, less the underwriting discount. Tecnoglass will receive all of the net proceeds from this offering. Tecnoglass intends to use the net proceeds of this offering for investments in growth capital expenditures (including to purchase new equipment), its Saint-Gobain joint venture and for working capital and other general corporate purposes.
Tecnoglass is a leading manufacturer of architectural glass, windows, and associated aluminum products for the global commercial and residential construction industries. Tecnoglass is the leading architectural glass transformation company in Colombia and the second largest glass fabricator serving the United States. The Company operates out of a 2.7 million square foot vertically-integrated, state-of-the-art manufacturing complex that provides easy access to North, Central and South America, the Caribbean, and the Pacific. Tecnoglass supplies over 1,000 customers in North, Central and South America, with the United States accounting for 80% of revenues. Tecnoglass' tailored, high-end products are found on some of the world’s most distinctive properties, including the El Dorado Airport (Bogota), 50 United Nations Plaza (New York), Trump Plaza (Panama), Icon Bay (Miami) and Salesforce Tower (San Francisco). The Company is headquartered in Barranquilla, Colombia.
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- March 2019
- Tecnoglass Inc.
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