American Axle & Manufacturing Holdings (AAM) has priced the 14,000,000 shares of common stock it is selling through a public offering at US$7.20 each for total gross proceeds of approximately US$100.8m.
The company also granted to the underwriters for the offering a 30-day option to purchase up to 2,100,000 additional shares of common stock to cover over-allotments, if any. The issuance of the common stock is expected to close on 15 December, 2009.
The company plans to use the net proceeds from this offering for general corporate purposes.
JP Morgan and BofA Merrill Lynch are serving as the joint book-runners for the stock offering.
Sectors: Components, Financial
Companies: AAM
View next/previous articles
11 Dec 2009 -
11 Dec 2009 -
Currently reading -
US: AAM prices public offer stock
10 Dec 2009 -
Related research
American Axle 2010 company profile edition 2
This latest edition just-auto company profile is part of a major series of reports that will provide you with convenient and concise analysis on the world's largest component and vehicle manufacturers. Each individual company is profiled in a consist...
Intelligence Set: Global market review of automotive 4WD transmissions – forecasts to 2014
Impelled by demands for better fuel economy, emissions and reduced NVH (noise, vibration and harshness) – and greater integration with other vehicle control systems – 4WD drivetrains are becoming ever more sophisticated. Containing key analysis of th...
World Gears NEW Industry forecasts for 2013 & 2018
This study analyzes the world market for gears and gear assemblies. The major product types are vehicular gear assemblies (powertrain and steering), other gear assemblies (speed reducers and changers, and gearmotors and all other nonvehicular assembl...

There are currently no comments on this article
Be the first to comment on this article