REV Group Inc (REVG) has released an update.
REV Group, Inc. has amended its Shareholders Agreement allowing for board resignations upon the AIP Parties’ ownership dropping below 15%, while also completing a significant public offering of 18.4 million shares at $16.50 each. This offering was fully subscribed, thanks to the Underwriters’ option, and included the Company buying back 8 million shares at a slightly reduced rate. This financial maneuvering indicates strategic corporate governance and capital restructuring for the Company.
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