Morgan Stanley is the underwriter and has been granted an overallotment option of up to 975,000 additional shares.
Generac’s shares closed at $35.64 last night, so today’s price represents a discount of 1.9%.
CCMP is Generac’s largest shareholder and will hold about 11.7% of the company’s stock after the offering is completed. CCMP plans to continue reducing its ownership stake in Generac with additional stock sales in the future.
Shares of Generac traded down about 2.4% in the first few minutes of trading this morning, at $34.77 in a 52-week range of $18.35 to $41.48.
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