Generac® Holdings Inc. Announces Initial Public Offering, First Day of Trading On New York Stock Exchange

Wednesday, Feb 17, 2010

Generac Holdings Inc. (NYSE: GNRC), parent company of Generac Power Systems, Inc., has priced its initial public offering of 18,750,000 shares of its common stock at $13.00 per share. The shares began trading on The New York Stock Exchange on February 11, 2010 under the ticker symbol “GNRC.” In addition, Generac Holdings Inc. has granted the underwriters a 30-day option to purchase up to an additional 2,812,500 shares at the initial public offering price.

“This is a great achievement for Generac and we are extremely pleased by the success of our initial public offering,” said Aaron Jagdfeld, Generac’s Chief Executive Officer. “We are excited about the future of Generac as a publicly traded company.”

Generac Holdings Inc. intends to use the net proceeds of the offering to pay down the term loans of its subsidiary Generac Power Systems, Inc., including paying down its second lien term loan in full and paying down a portion of its first lien term loan.

J.P. Morgan Securities Inc., Goldman, Sachs & Co., BofA Merrill Lynch and Robert W. Baird & Co. Incorporated are the book running managers for the offering.  William Blair & Company, KeyBanc Capital Markets, and Stephens Inc. are the co-managers for the offering.  The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or Phone (631) 254-1735; Goldman, Sachs & Co., Attn: Prospectus Department, 85 Broad Street, New York, NY 10004, Phone (866) 471-2526 or Prospectus-ny@ny.email.gs.com; BofA Merrill Lynch, Attn: Preliminary Prospectus Department, 4 World Financial Center, New York, NY 10080 or Prospectus.Request@ml.com; or Robert W. Baird & Co. Incorporated, 777 East Wisconsin Avenue, Milwaukee, WI 53202 or Phone (800) 792-2473.

A registration statement relating to these securities has been filed and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

 

Source: Generac