A big block of Generac Holdings will soon hit the market. The company announced that "funds affiliated with" major shareholder CCMP Capital are unloading 6.5 million shares of the firm's common stock in an underwritten secondary offering. Additionally, the transaction's underwriter has been granted a purchase option for up to an additional 975,000 shares.
In the press release announcing the move, Generac Holdings stressed that it will receive no proceeds from the issue, as it is not the offering party.
Morgan Stanley is the sole underwriter of the issue.
Currently, there are roughly 68.4 million shares of Generac Holdings stock outstanding. The stock's most recent closing market price was $35.64.
The article Generac Investors to Sell 6.5 Million Shares originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool owns shares of Generac Holdings. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.