Generac Goes Public on NYSE
Generac Holdings Inc. Announces Initial Public Offering, First Day of Trading on New York Stock Exchange.
WAUKESHA, Wis.--(BUSINESS WIRE)--Generac Holdings Inc. (NYSE: GNRC), parent company of Generac Power Systems, Inc., has priced its initial public offering of 18,750,000 shares of its common stock at $13.00 per share. The shares began trading on The New York Stock Exchange on February 11, 2010 under the ticker symbol “GNRC.” In addition, Generac Holdings Inc. has granted the underwriters a 30-day option to purchase up to an additional 2,812,500 shares at the initial public offering price.
“This is a great achievement for Generac and we are extremely pleased by the success of our initial public offering,” said Aaron Jagdfeld, Generac’s Chief Executive Officer. “We are excited about the future of Generac as a publicly traded company.”
Generac Holdings Inc. intends to use the net proceeds of the offering to pay down the term loans of its subsidiary Generac Power Systems, Inc., including paying down its second lien term loan in full and paying down a portion of its first lien term loan.
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 and industrial dealers, retailers and wholesalers.
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