To generate cash flow, Navistar has began a public offering of roughly 10 million shares of common stock, the company announced this morning. The intent, Navistar says, is to use money made from the stock sale for “general corporate purposes,” according to the announcement.
Navistar is granting underwrites a 30-day option to purchase up to 1.5 million shares, and J.P. Morgan Securities; Goldman, Sachs & Co.; Bank of America Merrill Lynch and Credit Suisse Securities are acting as joint book-running managers for the offering, Navistar says.
A preliminary prospectus supplement is available at sec.gov. Copies may be obtained from:
- J.P. Morgan: 1155 Long Island Avenue, Edgewood, NY 11717; (866) 803-9204
- Goldman, Sachs & Co: 200 West Street, New York, NY 10282; email@example.com; (866) 471-2526