Company will sell 50 million of its class B common shares in offering
By Devika Patel
Knoxville, Tenn., March 13 – McGregor Power Systems, Inc. priced its $50 million initial public offering of stock, according to a Form S-1 filed Friday with the Securities and Exchange Commission.
The company will sell 50 million class B common shares at $1.00 per share on a best-efforts, no minimum basis.
Proceeds will be used for operations.
The Ozark, Mo., company intends to build and lease electrical generation equipment.
| Issuer: | McGregor Power Systems, Inc.
|
| Issue: | Common stock
|
| Amount: | $50 million
|
| Shares: | 50 million
|
| Price: | $1.00
|
| Warrants: | No
|
| Pricing date: | March 13
|
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