Allison Transmission Holdings Inc. (ALSN: Quote) announced that it has priced its initial public offering of 26.10 million shares of common stock at $23 per share. The shares are expected to begin trading March 15, on the New York Stock Exchange under the ticker symbol "ALSN."
The selling stockholders in the offering have granted the underwriters an option to purchase up to 3.92 million additional shares at the initial offering price, less the underwriting discounts and commissions, to cover overallotments, if any. All of the shares of common stock offered are being sold by selling stockholders, the company said.
Allison Transmission said that it will not receive any proceeds from the sale of shares by the selling stockholders in this offering, including from any exercise by the underwriters of their overallotment option.
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by RTT Staff Writer
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