Broadwind amends credit agreement with Wells Fargo, reduces loan repayments

Broadwind, Inc. (NASDAQ:BWEN), a company currently valued at $47.81 million in market capitalization, announced Monday it has entered into a third amendment to its credit agreement with Wells Fargo Bank, National Association. According to InvestingPro data, the company operates with a significant debt burden, making this amendment particularly noteworthy. The amendment follows a mandatory prepayment of $1,599,586.95 on September 8, 2025, related to the sale of certain assets by Broadwind’s subsidiary, Broadwind Heavy Fabrications, Inc., in Manitowoc, Wisconsin.

According to a statement issued in a press release and filed with the Securities and Exchange Commission, the amendment reduces the company’s monthly principal repayment amount on its term loan. The repayment amount will decrease from $90,214.29 for each monthly period from January 1, 2025, through September 1, 2025, to $61,505.77 for each monthly period after October 1, 2025. The final installment will cover the remaining unpaid balance of the term loan.

The credit agreement was originally dated August 4, 2022, and has been amended previously on February 8, 2023, and December 19, 2024. The recent prepayment was made in accordance with the terms of the agreement, specifically Section 2.4(d), which required repayment following the asset sale.

Broadwind’s common stock is listed on the NASDAQ Capital Market under the symbol BWEN. The company is headquartered in Cicero, Illinois.

All information is based on a press release statement and the company’s filing with the Securities and Exchange Commission.

In other recent news, Broadwind reported its Q2 2025 earnings, revealing a significant miss on earnings per share (EPS) projections. The company posted an EPS of -$0.04, falling short of the forecasted $0.01, which marked a negative surprise of 500%. Despite the earnings miss, Broadwind’s revenue slightly exceeded expectations, reaching $39.2 million compared to a forecast of $38.4 million. Additionally, Broadwind has completed the sale of its industrial fabrication operations in Manitowoc, Wisconsin, to Wisconsin Heavy Fabrication, LLC for $13.5 million in cash. This transaction involved the sale of specified contracts, equipment, and machinery. Furthermore, Broadwind’s Board of Directors has authorized a share repurchase program of up to $3 million in common stock. The program allows repurchases through open market transactions and private purchases as determined by management. These developments reflect Broadwind’s ongoing strategic adjustments and financial activities.

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