<SEC-DOCUMENT>0001839882-23-007253.txt : 20230321
<SEC-HEADER>0001839882-23-007253.hdr.sgml : 20230321
<ACCEPTANCE-DATETIME>20230321163432
ACCESSION NUMBER:		0001839882-23-007253
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230321
DATE AS OF CHANGE:		20230321

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BROADWIND, INC.
		CENTRAL INDEX KEY:			0001120370
		STANDARD INDUSTRIAL CLASSIFICATION:	NONFERROUS FOUNDRIES (CASTINGS) [3360]
		IRS NUMBER:				880409160
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34278
		FILM NUMBER:		23750111

	BUSINESS ADDRESS:	
		STREET 1:		3240 S. CENTRAL AVENUE
		CITY:			CICERO
		STATE:			IL
		ZIP:			60804
		BUSINESS PHONE:		708-780-4800

	MAIL ADDRESS:	
		STREET 1:		3240 S. CENTRAL AVENUE
		CITY:			CICERO
		STATE:			IL
		ZIP:			60804

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROADWIND ENERGY, INC.
		DATE OF NAME CHANGE:	20080304

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TOWER TECH HOLDINGS INC.
		DATE OF NAME CHANGE:	20060210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKFOOT ENTERPRISES INC
		DATE OF NAME CHANGE:	20000726

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WM Argyle Fund, LLC
		CENTRAL INDEX KEY:			0001924978
		IRS NUMBER:				881704339
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		635 FLORENCE DRIVE
		CITY:			ELM GROVE
		STATE:			WI
		ZIP:			53122
		BUSINESS PHONE:		262-705-3180

	MAIL ADDRESS:	
		STREET 1:		635 FLORENCE DRIVE
		CITY:			ELM GROVE
		STATE:			WI
		ZIP:			53122
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFAN14A
<SEQUENCE>1
<FILENAME>wmargyle_dfan14a-032123.htm
<DESCRIPTION>SOLICITING MATERIAL
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">UNITED STATES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">SECURITIES AND EXCHANGE
COMMISSION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">Washington, D.C. 20549</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">SCHEDULE 14A</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">(Rule&nbsp;14a-101)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">INFORMATION REQUIRED
IN PROXY STATEMENT</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">SCHEDULE 14A INFORMATION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">Proxy Statement Pursuant
to Section 14(a) of the Securities</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">Exchange Act of 1934</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Filed by the registrant&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Filed by a party other than the registrant&nbsp;&nbsp;&#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12px"><FONT STYLE="font-size: 10pt">Check the appropriate box:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0px"></TD><TD STYLE="width: 22px; text-align: left">&#9744;</TD><TD><FONT STYLE="font-size: 10pt">Preliminary proxy statement</FONT></TD>
</TR></TABLE>

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<TD STYLE="width: 0px"></TD><TD STYLE="width: 22px; text-align: left">&#9744;</TD><TD><FONT STYLE="font-size: 10pt"><B>Confidential, for use of the
Commission only (as permitted by Rule 14a-6(e)(2))</B></FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0px"></TD><TD STYLE="width: 22px; text-align: left">&#9744;</TD><TD><FONT STYLE="font-size: 10pt">Definitive proxy statement</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0px"></TD><TD STYLE="width: 22px; text-align: left">&#9744;</TD><TD><FONT STYLE="font-size: 10pt">Definitive additional materials</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0px"></TD><TD STYLE="width: 22px; text-align: left">&#9746;</TD><TD><FONT STYLE="font-size: 10pt">Soliciting material pursuant to
Section&nbsp;240.14a-12</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">BROADWIND,
    INC.</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Name
    of Registrant as Specified in Its Charter)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">WM ARGYLE FUND, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">JAY DOUGLAS ARMBURGER</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">RYAN BOGENSCHNEIDER</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">CHRISTINE M. CANDELA</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">JAMES M. ROBINSON IV</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font-size: 10pt">Payment of filing fee (Check the appropriate
box):</FONT></P>

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<TD STYLE="width: 0px"></TD><TD STYLE="width: 22px; text-align: left">&#9746;</TD><TD><FONT STYLE="font-size: 10pt">No fee required.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0px"></TD><TD STYLE="width: 22px; text-align: left">&#9744;</TD><TD><FONT STYLE="font-size: 10pt">Fee paid previously with preliminary
materials.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0px"></TD><TD STYLE="width: 22px; text-align: left">&#9744;</TD><TD><FONT STYLE="font-size: 10pt">Fee computed on table in exhibit
required by Item 25(b) per Exchange Act Rules&nbsp;14a&#45;6(i)(1) and 0&#45;11.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On March&nbsp;21, 2023, the WM Argyle Group, LLC issued the following press
release:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>WM Argyle Fund Files Preliminary Proxy Materials for the Election of
Directors at the 2023 Annual Meeting of Broadwind, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Milwaukee, WI &ndash; March 21, 2023 &ndash; WM Argyle Fund, LLC (the &ldquo;Fund&rdquo;),
an investment fund created to invest in and revitalize Broadwind, Inc. (NASDAQ: BWEN) (&ldquo;Broadwind&rdquo; or the &ldquo;Company&rdquo;),
today announced that it has filed preliminary proxy materials with the SEC proposing the election of its nominees to the Broadwind Board
of Directors (the &quot;Broadwind Board&quot;) at the 2023 Annual Meeting of Stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On January 18, 2023, the Fund announced its intention to nominate six new
directors to the Broadwind Board, stating its belief that Broadwind had demonstrated chronic underperformance, made value-destroying strategic
errors, and granted excessive compensation to its top executives. The Fund also stated its view that Broadwind has exceptional potential
to create value for the benefit all shareholders in the years ahead with a reconstituted Broadwind Board and strategy for renewal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Since that time, many shareholders have expressed support and encouragement
for the Fund&rsquo;s efforts, welcoming the opportunity to bring fresh leadership, insight and experience to the Broadwind Board. Shareholders
also acknowledged the value of continuity and institutional knowledge as the Broadwind Board develops a strategy to reinvigorate the Company
and achieve sustained profitability. Accordingly, based on such feedback, the Fund has reduced the number of its proposed nominees to
three nominees for election to the six-member Broadwind Board, consisting of the following: Christine Candela, James Robinson and Ryan
Bogenschneider.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Fund believes its nominees are highly qualified and possesses the right
mix of skills and experience to ensure that the Broadwind Board takes the right steps to provide accountability and enhance shareholder
value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">While the Fund remains open to working with the Company to find a resolution
that is in the best interests of stockholders, it will continue to engage with fellow stockholders and present more information on its
nominees in the weeks ahead.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>About WM Argyle Fund</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">WM Argyle Fund, LLC is an investment fund specifically created to invest
in Broadwind. We believe the Company has been underperforming due to strategic errors, operational inefficiencies, and inattentive governance.
We are looking to ensure the long-term performance of the Company by reconstituting the Broadwind Board with new members. For more information,
visit: <FONT STYLE="color: Blue"><U>www.BWEN2023.com</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Important Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE">WM Argyle Fund, LLC, Jay Douglas Armburger,
Ryan Bogenschneider, Christine M. Candela and James M. Robinson IV (collectively, the &ldquo;Participants&rdquo;) intend to file with
the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) a definitive proxy statement and accompanying form of GREEN universal
proxy card to be used in connection with the solicitation of proxies from the stockholders of Broadwind, Inc. (the &ldquo;Company&rdquo;).
All stockholders of the Company are advised to read the definitive proxy statement and other documents related to the solicitation of
proxies by the Participants when they become available, as they will contain important information, including additional information
related to the Participants. The definitive proxy statement and an accompanying GREEN universal proxy card will be furnished to some
or all of the Company&rsquo;s stockholders and will be, along with other relevant documents, available at no charge on the SEC website
at <FONT STYLE="color: Blue"><U>http://www.sec.gov/</U></FONT>. In addition, the Participants in this Proxy Solicitation will provide
copies of the proxy statement without charge, when available, upon request. Requests for copies should be directed to the Participants
proxy solicitor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0px; background-color: #FEFEFE">Information about the Participants
and a description of their direct or indirect interests by security holdings is contained in the preliminary proxy statement filed by
the Participants with the SEC on March 21, 2023. This document is available free of charge from the source indicated above.</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Contacts: </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Investors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">InvestorCom LLC<BR>
John Glenn Grau, 203-972-9300<BR>
<FONT STYLE="color: Blue"><U>info@investor-com.com</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Media</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Mahony Partners<BR>
Richard Mahony, 917-257-6811<BR>
<FONT STYLE="color: Blue"><U>info@mahonypartners.com</U></FONT></P>
<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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