RIPON, Wis. — Commercial laundry equipment manufacturer Alliance Laundry Holdings Inc. reports that, on Oct. 10, it closed on its upsized initial public offering (IPO) of approximately 43 million shares of its common stock.
The IPO included underwriters exercising their option to purchase 5,634,146 additional shares, at an initial price of $22 per share. On Oct. 9, the company’s common stock began trading on the New York Stock Exchange under the ticker symbol “ALH.”
The total offering consisted of 24,390,243 shares sold by Alliance Laundry and 18,804,877 shares sold by a selling stockholder, identified in a Securities & Exchange Commission filing as BDT Badger Holdings LLC; Alliance Laundry received no proceeds from the sale of shares by the stockholder.
According to its SEC Form 8-K, Alliance Laundry will use its net proceeds, approximately $495.7 million, to repay outstanding indebtedness under its credit agreement.
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