WOOD DALE, Ill. (AP) -- Power Solutions International Inc. said Thursday that a public offering of about 1.8 million shares of its common stock was priced at $35 a share.
The company, which makes alternative-fuel power systems, is selling approximately 1.1 million shares in the offering. Certain selling stockholders are selling 700,000 shares.
The selling stockholders are giving the underwriters an option to buy up to an additional 255,000 shares to cover any excess demand.
The offering is expected to close on Tuesday.
Shares of Power Solutions International rose $4.88, or 13 percent, to $42.33 in morning trading. Earlier in the session the stock touched $42.85, its highest level since it started trading in April 2012.
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- common stock