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REV Group Announces Pricing of Upsized Secondary Offering

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REV Group announced the pricing of the previously announced underwritten public offering, which has been upsized to 16,000,000 shares of common stock by certain selling stockholders at the public offering price of $16.50 per share.

In connection with the offering, the selling stockholders have granted the underwriters an option to purchase up to 2,400,000 additional shares of common stock from the selling stockholders. REV Group is not selling any shares of common stock in the offering, and REV Group will not receive any proceeds from the offering by the selling stockholders. The offering is expected to close on or about Feb. 20, subject to customary closing conditions.

Baird, Goldman Sachs & Co. and Morgan Stanley are serving as joint book-running managers for the offering. D.A. Davidson & Co. is acting as co-manager for the offering.

REV Group has agreed to purchase from the underwriters 8,000,000 of the shares of its common stock that are subject to the offering at a price per common share equal to the price to be paid to the selling stockholders by the underwriters, which is approximately $15.76 per common share. REV Group intends to fund the repurchase with cash on hand and borrowings under its revolving credit agreement.

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