Actuant (ATU) Prices 9.5M Shares At $12 Per Share
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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.
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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