Allison Transmission prices initial public offering
On Wednesday Indianapolis-based Allison Transmission Holdings, Inc. (NYSE: ALSN) announced it had priced its initial public offering of 26.1 million shares of common stock at $23 per share. The shares are expected to begin trading today on the New York Stock Exchange under the ticker symbol “ALSN.”
The selling stockholders in the offering have granted the underwriters an option to purchase up to 3.915 million additional shares at the initial offering price, less the underwriting discounts and commissions, to cover overallotments, if any. All of the shares of common stock offered are being sold by selling stockholders. Allison Transmission Holdings, Inc. will not receive any proceeds from the sale of shares by the selling stockholders in this offering, including from any exercise by the underwriters of their overallotment option.
For more, visit Allison Transmission is the world’s largest manufacturer of fully-automatic transmissions for medium- and heavy-duty commercial vehicles, medium- and heavy-tactical U.S. military vehicles and hybrid-propulsion systems for transit buses. More information about Allison is available at www.allisontransmission.com.