Blue Bird Announces Launch of Secondary Public Offering
05 Junho 2023 - 5:00PM
Business Wire
Blue Bird Corporation (“Blue Bird” or the “Company”) (Nasdaq:
BLBD), a leader in electric and low-emission school buses,
announced today that affiliates of Coliseum Capital Management LLC
and American Securities LLC (the “Selling Stockholders”) intend to
offer 5,000,000 shares of Blue Bird’s common stock, par value
$0.0001 per share (the “Common Stock”), pursuant to a shelf
registration statement filed with the Securities and Exchange
Commission (the “SEC”). The Selling Stockholders intend to grant
the underwriters a 30-day option to purchase up to an additional
750,000 shares of Common Stock at the public offering price, less
underwriting discounts and commissions.
The offering consists entirely of secondary shares to be sold by
the Selling Stockholders. The Selling Stockholders will receive all
of the proceeds from the offering. The Company is not selling any
shares of Common Stock in the offering and will not receive any
proceeds from the offering.
BofA Securities and Barclays are acting as joint lead
book-running managers for the offering and as representatives of
the underwriters. Jefferies, BMO Capital Markets and Piper Sandler
will also act as joint book-running managers for the proposed
offering.
The offering is being made pursuant to an effective shelf
registration statement (including a prospectus) filed by Blue Bird
with the SEC on December 21, 2021 which became effective January 5,
2022 to which this communication relates. Before you invest, you
should read the prospectus in the shelf registration statement and
the documents incorporated by reference in that registration
statement as well as the prospectus supplement and the documents
incorporated by reference therein related to this offering. The
offering will be made only by means of the prospectus and the
related prospectus supplement. A copy of the prospectus and the
related prospectus supplement relating to the offering may be
obtained, when available, by visiting the SEC’s website at
www.sec.gov. Copies of the prospectus and the related prospectus
supplement for the offering may also be obtained, when available,
by contacting BofA Securities, Inc., Attn: Prospectus Department,
NC1-022-02-25, 201 North Tryon, Charlotte, NC 28255-0001, e-mail:
dg.prospectus_requests@bofa.com, telephone: 800-294-1322 or
Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, e-mail:
barclaysprospectus@broadridge.com, telephone: 888-603-5847.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, 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 Blue Bird
Corporation
Blue Bird (NASDAQ: BLBD) is recognized as a technology leader
and innovator of school buses since its founding in 1927. Blue
Bird’s dedicated team members design, engineer and manufacture
school buses with a singular focus on safety, reliability, and
durability. The company is the market leader in low- and
zero-emission school buses with more than 20,000 propane, natural
gas, and electric powered buses in operation today.
Forward-Looking
Statements
This press release includes forward-looking statements within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements relate to expectations for future financial performance,
business strategies or expectations for our business. Specifically,
forward-looking statements include may include statements relating
to:
- this offering;
- the future financial performance of the Company;
- negative changes in the market for Blue Bird products;
- expansion plans and opportunities;
- challenges or unexpected costs related to manufacturing;
- union organization activities and job actions, including
without limitation strikes, unfair labor practice charges, work
stoppages, grievances, and other labor disruptions or disputes,
which could disrupt our business and increase our labor costs;
future impacts from the novel coronavirus pandemic known as
“COVID-19,” and any other pandemics, public health crises, or
epidemics, on capital markets, manufacturing and supply chain
abilities, consumer and customer demand, school system operations,
workplace conditions, and any other unexpected impacts, which
include or could include, among other effects:
- disruption in global financial and credit markets;
- supply shortages and supplier financial risk, especially from
our single-source suppliers impacted by the pandemic;
- negative impacts to manufacturing operations or the supply
chain from shutdowns or other disruptions in operations;
- negative impacts on capacity and/or production in response to
changes in demand due to the pandemic, including possible cost
containment actions;
- financial difficulties of our customers impacted by the
pandemic;
- reductions in market demand for our products due to the
pandemic; and
- potential negative impacts of various actions taken by foreign
and United States of America federal, state and/or local
governments in response to the pandemic.
- future impacts resulting from Russia's invasion of Ukraine,
which include or could include, among other effects:
- disruption in global commodity and other markets;
- supply shortages and supplier financial risk, especially from
suppliers providing inventory that is dependent on resources
originating from either of these countries; and
- negative impacts to manufacturing operations resulting from
inventory cost volatility or the supply chain due to shutdowns or
other disruptions in operations.
- Other statements preceded by, followed by or that include the
words “estimate,” “plan,” “project,” “forecast,” “intend,”
“expect,” “anticipate,” “believe,” “seek,” “target” or similar
expressions
These forward-looking statements are based on information
available as of the date of this press release, and current
expectations, forecasts and assumptions, and involve a number of
judgments, risks and uncertainties. Accordingly, forward-looking
statements should not be relied upon as representing our views as
of any subsequent date, and we do not undertake any obligation to
update forward-looking statements to reflect events or
circumstances after the date they were made, whether as a result of
new information, future events or otherwise, except as may be
required under applicable securities laws. The factors described
above, as well as risk factors described in reports filed with the
SEC by us (available at www.sec.gov), could cause our actual
results to differ materially from estimates or expectations
reflected in such forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20230605005755/en/
Mark Benfield Investor Relations (478) 822-2315
Mark.Benfield@blue-bird.com
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