TPI Composites (TPIC) said late Wednesday that the US Bankruptcy Court for the Southern District of Texas approved all first-day motions that it filed for its voluntary chapter 11 proceedings.
The approved motions include interim approval for debtor-in-possession financing of up to $82.5 million from senior secured lenders.
The company said the motions will allow it to continue normal business operations amid the chapter 11 process.
TPI shares were up 4% in recent premarket activity Thursday.
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