India, Aug. 17 -- Alliance Laundry Systems (ALH) said on Monday that its principal shareholder BDT Capital Partners, LLC will sell 20.5 million shares in an underwritten public offering, with an option for underwriters to purchase up to an additional 3.08 million shares.
Alliance Laundry will not sell any shares or receive proceeds from the offering. The company said it intends to repurchase about $75 million worth of shares from the underwriters at the offering price, subject to completion of the deal.
BofA Securities and J.P. Morgan are acting as joint book-running managers.
In pre-market activity on the NYSE, shares of Alliance Laundry Systems were down 7.52 percent, changing hands at $23.54, after closing Friday's regular session 1.1...