Power Solutions International to seek second public offering
Wood-Dale based Power Solutions International, Inc. has filed plans for an secondary public offering of stock with the with the U.S. Securities and Exchange Commission.
Under the proposal, PSI would offer 1.7 million shares of its common stock, plus up to an additional 255,000 shares of its common stock subject to the exercise of the underwriters' over-allotment option. Of these shares, 1 million will be issued and sold by the company and 700,000 shares, plus up to an additional 255,000 shares subject to the exercise of the underwriters' over-allotment option, will be sold by certain selling stockholders.
The company will not receive any proceeds from the sale of shares by the selling stockholders, the company said in a release. Craig-Hallum Capital Group LLC is acting as sole book-running manager of the proposed offering, with Roth Capital Partners, LLC acting as co-lead manager.
The company designs, engineers and manufactures emissions-certified alternative-fuel and conventional power systems.
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