Generac Holdings Inc. Announces Exercise of Option to Purchase Additional Shares
March 12 2010 - 5:57PM
Business Wire
Generac® Holdings Inc. (NYSE: GNRC) today announced that the
underwriters of its initial public offering of 18,750,000 shares of
common stock, have exercised their option to purchase an additional
1,950,500 shares of common stock at the initial public offering
price of $13.00 per share. The closing of the option is expected to
occur on March 18, 2010, and will increase the aggregate number of
shares sold in the initial public offering to 20,700,500 and the
number of shares outstanding to 67,529,290.
Generac will receive approximately $23.8 million in net proceeds
from the sale of these additional shares. Generac intends to use
these net proceeds for general corporate purposes, including
repayment of debt.
J.P. Morgan Securities Inc., Goldman, Sachs & Co., BofA
Merrill Lynch and Robert W. Baird & Co. Incorporated are the
book running managers for the offering. William Blair &
Company, KeyBanc Capital Markets, and Stephens Inc. are the
co-managers for the offering. The offering of these securities is
being made only by means of a prospectus, copies of which may be
obtained from Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717 or Phone (631) 254-1735; Goldman, Sachs
& Co., Attn: Prospectus Department, 85 Broad Street, New York,
NY 10004, Phone (866) 471-2526 or Prospectus-ny@ny.email.gs.com;
BofA Merrill Lynch, Attn: Preliminary Prospectus Department, 4
World Financial Center, New York, NY 10080 or
Prospectus.Request@ml.com; or Robert W. Baird & Co.
Incorporated, 777 East Wisconsin Avenue, Milwaukee, WI 53202 or
Phone (800) 792-2473.
A registration statement relating to these securities has been
filed and declared effective by the Securities and Exchange
Commission. This press release shall not constitute an offer to
sell or a solicitation of an offer to buy, nor shall there be any
sale of these securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Generac (NYSE: GNRC)
Since 1959, Generac has been a leading manufacturer of backup
power generation products serving residential, light commercial and
industrial markets. Generac's power systems range in output from
800 watts to 9 megawatts and are available through a broad network
of independent dealers, retailers and wholesalers.
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