MILWAUKEE - REV Group, Inc. (NYSE:REVG), a manufacturer of specialty vehicles, has set the price for its secondary public offering of common stock. The offering, announced earlier, involves 7,395,191 shares priced at $18.00 each, totaling approximately $133.1 million. These shares are being sold by American Industrial Partners Capital Fund IV, LP and its parallel fund, not by REV Group itself, which means the company will not receive any proceeds from this transaction.
The closing of the offering is anticipated to occur on March 15, 2024, subject to the satisfaction of customary closing conditions. Goldman Sachs & Co (NYSE:GS). LLC and Morgan Stanley (NYSE:MS) are serving as the joint book-running managers for the offering.
The sale is being conducted under an effective shelf registration statement on Form S-3, which was filed with the Securities and Exchange Commission (SEC) and became effective on December 19, 2023. The offering is made through a prospectus supplement and the accompanying base prospectus, which are available on the SEC's website.
REV Group, known for its design, manufacture, and distribution of specialty vehicles, operates through two segments: Specialty Vehicles and Recreational Vehicles. The company caters to a diversified customer base, including essential services and consumer leisure markets, with a portfolio of recognized brands in the industry.
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