Generac Prices Secondary Stock Sale

Before you go, we thought you'd like these...
Before you go close icon

stock symbol tickerPower equipment product maker Generac Holdings Inc. (NYSE: GNRC) has priced a secondary stock sale of 6.5 million shares at $34.95 per share. The sale includes only shares held by CCMP Capital, and none of the proceeds will be available to Generac or any of its directors or officers.

Morgan Stanley is the underwriter and has been granted an overallotment option of up to 975,000 additional shares.

Generac's shares closed at $35.64 last night, so today's price represents a discount of 1.9%.

CCMP is Generac's largest shareholder and will hold about 11.7% of the company's stock after the offering is completed. CCMP plans to continue reducing its ownership stake in Generac with additional stock sales in the future.

Shares of Generac traded down about 2.4% in the first few minutes of trading this morning, at $34.77 in a 52-week range of $18.35 to $41.48.


Filed under: 24/7 Wall St. Wire, Industrials, Secondary Offering Tagged: GNRC
Read Full Story

Markets

S&P 500 2,348.69 -7.15 -0.30%
DJIA 20,547.76 -30.95 -0.15%
NASDAQ 5,910.52 -6.26 -0.11%
DAX 12,048.57 21.25 0.18%
NIKKEI 225 18,859.65 238.90 1.28%
HANG SENG 24,016.23 -25.79 -0.11%
USD (per EUR) 1.09 0.00 -0.16%
USD (per CHF) 1.00 0.00 0.38%
JPY (per USD) 110.03 0.06 0.05%
GBP (per USD) 1.28 0.00 -0.21%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

No One Can Explain This Frightening Footage That Just Surfaced - And People Are Freaking No One Can Explain This Frightening Footage That Just Surfaced - And People Are Freaking
This Photographer Brilliantly Documented Crime on the Mean Streets of New York City This Photographer Brilliantly Documented Crime on the Mean Streets of New York City
Girl's Dad Brings Home A Strange Puppy - But Quickly Realizes It's Not Really A Dog At All Girl's Dad Brings Home A Strange Puppy - But Quickly Realizes It's Not Really A Dog At All