Actuant (ATU) Prices 9.5M Shares At $12 Per Share
Actuant Corporation (NYSE: ATU) announced today that the public offering of 9,500,000 shares of its class A common stock has priced at $12.00 per share. The offering includes a 30-day option for the underwriters to purchase up to an additional 1,425,000 shares to cover over-allotments, if any.
Assuming no exercise of the underwriters' over-allotment option, Actuant expects to receive net proceeds from the offering of approximately $108 million after deducting underwriting discounts and commissions and estimated expenses of the offering. Actuant will use the net proceeds from the offering to reduce indebtedness.
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