<SEC-DOCUMENT>0001437749-23-014455.txt : 20230515
<SEC-HEADER>0001437749-23-014455.hdr.sgml : 20230515
<ACCEPTANCE-DATETIME>20230515135128
ACCESSION NUMBER:		0001437749-23-014455
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230515
DATE AS OF CHANGE:		20230515

FILER:

	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:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34278
		FILM NUMBER:		23920726

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>bwen20230515_defa14a.htm
<DESCRIPTION>FORM DEFA14A
<TEXT>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>UNITED STATES</b><br>
<b>SECURITIES AND EXCHANGE COMMISSION</b><br>
<b>Washington, D.C. 20549</b></p>

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<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;text-align:center;margin:0pt;"><b>Schedule 14A Information</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>(Amendment No. )</b></p>

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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Preliminary Proxy Statement</p>
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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Soliciting Material under &#167;240.14a-12</p>
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<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;text-align:center;margin:0pt;"><b>BROADWIND, INC.</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Name of Registrant as Specified In Its Charter)</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</p>

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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">No fee required</p>
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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.</p>
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<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;text-align:center;margin:0pt;"><b>Both Leading Proxy Advisory Firms, ISS and Glass Lewis, Recommend Stockholders Vote </b>&#8220;<b><u>FOR</u></b>&#8221;<b> All of Broadwind</b>&#8217;<b>s Nominees on the Company</b>&#8217;<b>s </b><b><u>WHITE</u></b><b> Proxy Card</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><i>ISS states WM Argyle</i>&#8217;<i>s campaign critique </i>&#8220;<i>amounts to a one-dimensional observation</i>&#8221;<i> and </i>&#8220;<i>fails to establish a cohesive argument</i>&#8221;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">CICERO, Ill., May 15, 2023 (GLOBE NEWSWIRE) -- Broadwind, Inc. (Nasdaq: BWEN) (&#8220;Broadwind&#8221; or the &#8220;Company&#8221;) today announced that leading proxy advisory firms, Institutional Shareholder Services (&#8220;ISS&#8221;) and Glass, Lewis &amp; Co. (&#8220;Glass Lewis&#8221;), have both recommended Broadwind stockholders vote on the Company&#8217;s <b>WHITE</b> proxy card in favor of <u>all</u> seven of Broadwind&#8217;s director nominees, as well as all other management proposals, at the upcoming 2023 annual meeting of stockholders scheduled to be held on May 23, 2023 (the &#8220;2023 Annual Meeting&#8221;).</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">In its report, ISS<font style="font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">1</sup></font> notes the following:</p>

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			<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">&#8220;BWEN has already booked its first win in this new environment, announcing the largest tower order in company history in January. The market has reacted positively to the order, operational performance has since been promising, and the analyst community has expressed a generally favorable outlook for BWEN&#8217;s prospects.&#8221;</p>
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			<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">&#8220;[T]he dissident has presented a critique that amounts to a one-dimensional observation of historical underperformance. The critique overlooks recent developments (or is unconvincing in explaining why they are not important), emphasizes legacy deficiencies that are detached from the present state of affairs, and generally fails to establish a cohesive argument.&#8221;</p>
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			<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">&#8220;The dissident has not made a compelling case for change. As such, votes FOR all seven management nominees are recommended.&#8221;&nbsp;</p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">In its report, Glass Lewis<font style="font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">2</sup></font> notes the following:</p>

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			<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">&#8220;[W]e believe the future appears bright at the Company, evidenced not least by the recently announced Tower Order, with management and research analysts expecting strong performance and a return to profitability in 2023 and continuing through 2024.&#8221;&nbsp;</p>
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			<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">&#8220;[T]he Company Nominees are the most suitable candidates to lead Broadwind through what appears to be the beginning of an emergence from the industry downturn in the wake of the pandemic.&#8221;&nbsp;</p>
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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"><font style="font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">1</sup></font> Permission to quote from the ISS report was neither sought nor obtained.</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"><font style="font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">2</sup></font> Permission to quote from the Glass Lewis report was neither sought nor obtained.</p>

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			<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">&#8220;[W]e share the same primary concern as the Company that none of the Dissident Nominees have backgrounds in clean technologies or energy transition manufacturing, nor have they served as a senior executive or director of a public company.&#8221;</p>
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&#8220;Broadwind welcomes the favorable recommendations from ISS and Glass Lewis following deep analysis of the Company,&#8221; stated Eric Blashford, President and CEO of Broadwind. &#8220;These recommendations reinforce our belief that the Company is heading in the right direction under its current leadership.&#8221;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">&#8220;We acknowledge with appreciation the support from the leading proxy advisory firms for all of Broadwind&#8217;s nominees,&#8221; stated Cary B. Wood, Chairman of the Board. &#8220;These findings make it clear that the election of WM Argyle&#8217;s nominees is unwarranted and would not be in the best interests of the Company&#8217;s stockholders.&#8221;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>YOUR VOTE IS IMPORTANT</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>VOTE </b>&#8220;<b>FOR</b>&#8221;<b> BROADWIND</b>&#8217;<b>S DIRECTOR NOMINEES ON THE </b><b><u>WHITE</u></b><b> PROXY CARD TODAY</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">If you have any questions or require any assistance with respect to voting your shares, please contact the Company's proxy solicitor, Morrow Sodali LLC:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">509 Madison Avenue Suite 1206</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">New York, New York 10022</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Stockholders Call Toll Free: (800) 662-5200</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Banks, Brokers, Trustees and Other Nominees Call Collect: (203) 658-9400</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Email: BWEN@investor.MorrowSodali.com</p>

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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>CORPORATE CONTACT</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Noel Ryan, IRC</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">BWEN@val-adv.com</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Important Additional Information</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The Company, its directors and certain of its executive officers are participants in the solicitation of proxies from the Company&#8217;s stockholders in connection with its upcoming 2023 Annual Meeting. The Company filed its definitive proxy statement and a&nbsp;<b>WHITE</b>&nbsp;proxy card with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) on April 7, 2023 in connection with any such solicitation of proxies from the Company&#8217;s stockholders.&nbsp;<b>STOCKHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT, ACCOMPANYING</b>&nbsp;<b><u>WHITE</u></b><u>&nbsp;</u><b>PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION</b>. The Company&#8217;s definitive proxy statement for the 2023 Annual Meeting contains information regarding the direct and indirect interests, by security holdings or otherwise, of the Company&#8217;s directors and executive officers in the Company&#8217;s securities. Information regarding subsequent changes to their holdings of the Company&#8217;s securities can be found in the SEC filings on Forms 3, 4 and 5, which are available on the Company&#8217;s website at http://investors.bwen.com or through the SEC&#8217;s website at www.sec.gov. Information can also be found in the Company&#8217;s other SEC filings, including its Annual Report on Form 10-K for the year ended December 31, 2022, filed on March 9, 2023. Stockholders will be able to obtain the definitive proxy statement, any amendments or supplements to the proxy statement and other documents filed by the Company with the SEC at no charge at the SEC&#8217;s website atwww.sec.gov. Copies will also be available at no charge on the Company&#8217;s website at http://investors.bwen.com.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

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