Allison to sell 22M shares of stock, declares dividend
Allison Transmission Holdings, Inc. announced Monday a proposed secondary offering of 22 million shares of its common stock by investment funds affiliated with The Carlyle Group and Onex Corporation.
A group led by BofA Merrill Lynch, Citigroup and J.P. Morgan will serve as underwriters in the proposed registered public offering.
In addition, the underwriters will have an option to purchase up to 3,3 million additional shares.
All shares are being sold on a pro rata basis in accordance with their current interests.
The total number of outstanding shares of Allison’s common stock will not change as a result of the offering.
A copy of the preliminary prospectus related to the offering may be obtained, when available, from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or e-mail firstname.lastname@example.org
The company also announced Monday its Board of Directors approved an increase in its quarterly cash dividend from $0.06 to $0.12 per share on the company’s common stock and non-voting common stock.
Payment will be made on May 31, 2013, to stockholders of record at the close of business on May 17, 2013.