Federal Signal Corporation Closes Public Offering of Common Stock Including Over-Allotment Option
Federal Signal Corporation, a leader in environmental, safety and transportation solutions, announced today that it has closed its previously announced public offering of 12,075,000 shares of common stock, including 1,575,000 shares pursuant to the underwriters over-allotment option, at $6.25 per share.
The sole bookrunning manager for the offering and representative of the other underwriters is Citi.
Federal Signal received net proceeds from this offering of approximately $71.0 million, after deducting underwriting discounts and commissions and estimated expenses. The Company intends to use the net proceeds from the offering to repay indebtedness under Federal Signal's revolving credit facility associated with the recent acquisitions of Sirit and VESystems.
Federal Signal received net proceeds from this offering of approximately $71.0 million, after deducting underwriting discounts and commissions and estimated expenses. The Company intends to use the net proceeds from the offering to repay indebtedness under Federal Signal's revolving credit facility associated with the recent acquisitions of Sirit and VESystems.
About Federal Signal
Federal Signal enhances the safety, security and well-being of communities and workplaces around the world. Founded in 1901, Federal Signal is a leading global designer and manufacturer of products and total solutions that serve municipal, governmental, industrial and transportation customers and markets. Headquartered in Oak Brook, IL, with manufacturing facilities worldwide, Federal Signal operates three groups: Safety and Security Systems, Environmental Solutions and Fire Rescue. The Company is creating a fourth group, Federal Signal Technologies.
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