WOOD DALE, Ill., July 16, 2013 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (Nasdaq:PSIX), a leader in the design, engineering and manufacture of emissions-certified alternative-fuel and conventional power systems, today announced the closing of its underwritten public offering of 2,005,000 shares of its common stock at a price to the public of $35.00 per share. The Company sold 1,050,000 shares of common stock, and certain selling stockholders sold 955,000 shares of common stock in the offering, which include 255,000 shares as a result of the full exercise by the underwriters of their over-allotment option. The net proceeds to the Company were $34,655,250 before deducting offering expenses payable by the Company. The Company did not receive any proceeds from the sale of the shares by the selling stockholders.
Craig-Hallum Capital Group LLC acted as sole book-running manager of the offering, with Roth Capital Partners, LLC acting as co-lead manager.
The offering was made by means of a prospectus. Copies of the final prospectus related to the offering may be obtained from Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, Attention: Bart Federak, Phone 612-334-6357 / Fax 612-334-6348, Email: email@example.com; or from Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, California 92660, Attention: Equity Capital Markets, Phone (800) 678-9147 / Fax (949) 720-7227.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Power Solutions International, Inc.
Power Solutions International, Inc. (PSI) is a leader in the design, engineering and manufacture of emissions-certified, alternative-fuel power systems. PSI provides integrated turnkey solutions to leading global original equipment manufacturers in the industrial and on-road markets. The company's unique in-house design, prototyping, engineering and testing capacities allows PSI to customize clean, high-performance engines that run on a wide variety of fuels including natural gas, propane, biogas, diesel and gasoline.
PSI develops and delivers complete .97 to 22 liter power systems, including the new 8.8 liter engine aimed at the industrial and on-road markets including medium duty fleets, delivery trucks, school buses and garbage/refuse trucks. PSI power systems are currently used worldwide in power generators, forklifts, aerial lifts, and industrial sweepers, as well as in oil and gas, aircraft ground support, agricultural and construction equipment.
CONTACT: Power Solutions International, Inc. Dan Gorey Chief Financial Officer +1 (630) 451-2290 firstname.lastname@example.orgSource:Power Solutions International, Inc.