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Broadwind Stockholders Re-Elect All Seven Incumbent Director Nominees at 2023 Annual Meeting

CICERO, Ill., May 23, 2023 (GLOBE NEWSWIRE) -- Broadwind, Inc. (Nasdaq: BWEN, “Broadwind” or the “Company”), a diversified precision manufacturer of specialized components and solutions serving global markets, today announced that, based on preliminary voting tabulations provided by the Company’s proxy solicitor, Broadwind stockholders have supported the re-election of all seven Broadwind nominees to the Company’s Board of Directors (the “Board”):  Eric B. Blashford, Philip J. Christman, Jeanette A. Press, David P. Reiland, Sachin M. Shivaram, Thomas A. Wagner and Cary B. Wood.

Based on preliminary voting tabulations, Broadwind reports that all of its director candidates were elected by an overwhelming majority of the shares voted. The vote results are subject to certification by an independent inspector of elections.

The Board issued the following statement:

“We appreciate the continued, broad-based support of our stockholders, as demonstrated by the re-election of all seven of our incumbent directors. During our campaign-related engagement with the investment community, we received both positive feedback on the significant commercial and operational achievements delivered by the leadership team, together with constructive insights that will serve to drive continuous improvement in the years ahead. Looking ahead, we remain highly focused on supporting the execution of our strategic plan, while continuing to maximize value creation for our stockholders, consistent with our fiduciary duties.”

The preliminary vote count provided by the Company’s proxy solicitor also indicates that Broadwind stockholders voted in favor of all other proposals submitted for a vote at the 2023 Annual Meeting of Stockholders (the “2023 Annual Meeting”).

Broadwind will file final voting results with the Securities and Exchange Commission (the “SEC”) on Form 8-K once they are certified by the independent inspector of elections.

Vinson & Elkins L.L.P. served as legal advisor, while Vallum Advisors and Bonifacino Advisors served as strategic advisors to Broadwind.

ABOUT BROADWIND

Broadwind (Nasdaq: BWEN) is a precision manufacturer of structures, equipment and components for clean tech and other specialized applications. With facilities throughout the U.S., our talented team is committed to helping customers maximize performance of their investments—quicker, easier and smarter. Find out more at www.bwen.com.

FORWARD-LOOKING STATEMENTS

This release contains “forward-looking statements”—that is, statements related to future, not past, events—as defined in Section 21E of the Securities Exchange Act of 1934, as amended, that reflect the Company’s current expectations regarding its future growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities, as well as assumptions made by, and information currently available to, its management. Forward-looking statements include any statement that does not directly relate to a current or historical fact. The Company has tried to identify forward-looking statements by using words such as “anticipate,” “believe,” “expect,” “intend,” “will,” “should,” “may,” “plan” and similar expressions, but these words are not the exclusive means of identifying forward-looking statements.

The Company’s forward-looking statements may include or relate to the Company’s beliefs, expectations, plans and/or assumptions with respect to the final results of the 2023 Annual Meeting, the future of the Company’s operations and its ability to continue to execute on its strategies and grow its business organically. These statements are based on information currently available to the Company and are subject to various risks, uncertainties and other factors that could cause the Company’s actual growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities to differ materially from those expressed in, or implied by, these statements including, but not limited to, those set forth under the caption “Risk Factors” in Part I, Item 1A of the Company’s most recently filed Form 10-K and the Company’s other filings with the SEC. The Company is under no duty to update any of these statements. You should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or other factors that could cause the Company’s current beliefs, expectations, plans and/or assumptions to change. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results.

INVESTOR RELATIONS CONTACT

Noel Ryan, IRC
BWEN@val-adv.com

STOCKHOLDER CONTACT

Michael Verrechia, PR
m.verrechia@morrowsodali.com


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