REV Group Inc. has disclosed the cost of a proposed underwritten secondary public offering. This involves approximately 7.40 million shares of the company's common stock. The shares are owned by the American Industrial Partners Capital Fund IV, LP and American Industrial Partners Capital Fund IV (Parallel), LP and are valued at an offering price of $18.00 per share.
The offering is entirely made up of shares from the aforementioned entities, known as the Selling Stockholders. However, REV Group will not reciprocate any proceeds from this sale, the company delineated in a public statement.
The completion of the offering is projected to be on March 15, 2024. The process will be managed by Goldman Sachs & Co. LLC and Morgan Stanley, serving as joint book-running managers.
