Generac Underwriters Purchase Additional Shares

Generac Holdings last week announced that the underwriters of its initial public offering of 18,750,000 shares of common stock, have exercised their option to purchase an additional 1,950,000 shares of common stock at the IPO price of $13 per share. The closing of the option was expected to occur March 18, and will increase the aggregate number of shares sold in the IPO to 20,700,500 and the number of shares outstanding to more than 67.5 million.

Generac will receive about $23.8 million in net proceeds from the sale of the additional shares, which the company plans to use for general corporate purposes including debt repayment.