Deal Details
Secondary Offering
Summary
Baird served as the lead bookrunner on this offering
About
Twin Disc, Inc. (“Twin Disc” or “the Company”) (NASDAQ-GS: TWIN) recently closed a secondary offering of $34.5 million of shares of its common stock at a public offering price of $22.50 per share, which included the exercise in full by the underwriters of their option to purchase additional shares of common stock on the same terms and conditions. Twin Disc will receive all of the net proceeds from this offering. Twin Disc intends to use the net proceeds from the offering to pay down existing indebtedness, which will make available other Company resources for general corporate and working capital purposes, including potentially funding future acquisitions.Twin Disc designs, manufactures and sells marine and heavy-duty off-highway power transmission equipment. Products offered include: marine transmissions, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and control systems. The Company sells its products to customers primarily in the pleasure craft, commercial and military marine markets, as well as in the energy and natural resources, government and industrial markets. Twin Disc is headquartered in Racine, Wisconsin.
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- Date
- September 2018
- Company
- Twin Disc, Inc.
- Transaction
- M&A
- Sectors
- Industrial
- Target Geography
- North America
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