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MILWAUKEE – REV Group, Inc. (NYSE:), a manufacturer of specialty vehicles, has priced its secondary public offering of common stock. The previously announced offering includes 7,395,191 shares at a price of $18.00 per share, for gross proceeds of approximately $133.1 million. The company will not receive any proceeds from this transaction, as these shares will be sold by American Industrial Partners Capital Fund IV, LP and its parallel funds, rather than by REV Group itself.
Closing of the initial public offering is expected to occur on March 15, 2024, subject to the satisfaction of customary closing conditions. Goldman Sachs & Company (NYSE:). LLC and Morgan Stanley are acting as joint book managers for this product.
The sale is being made pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (SEC) and effective December 19, 2023. The offering will be made through a prospectus supplement and accompanying supporting documents. A prospectus is available on the SEC's website.
REV Group is known for designing, manufacturing and selling specialty vehicles and operates in two segments: specialty vehicles and recreational vehicles. The company has a portfolio of industry-recognized brands and serves a diverse customer base, including essential services and consumer leisure markets.
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