Power Solutions International announces closing of public offering
Power Solutions International, Inc., a leader in the design, engineering and manufacture of emissions-certified alternative-fuel and conventional power systems, today announced the closing of its underwritten public offering of 2,005,000 shares of its common stock at a price to the public of $35.00 per share.
The company sold 1,050,000 shares of common stock, and certain selling stockholders sold 955,000 shares of common stock in the offering, which include 255,000 shares as a result of the full exercise by the underwriters of their over-allotment option. The net proceeds to the company were $34,655,250 before deducting offering expenses payable by the company.
The company did not receive any proceeds from the sale of the shares by the selling stockholders.
Craig-Hallum Capital Group LLC acted as sole book-running manager of the offering, with Roth Capital Partners, LLC acting as co-lead manager.