Allison Announces Sale Of 25 Mln Shares By Selling Stockholders

(RTTNews) - Allison Transmission Holdings, Inc. (ALSN) announced the sale of 25 million shares of its common stock by investment funds affiliated with The Carlyle Group and Onex Corporation. The underwriter of the company will have an option to purchase up to 3.75 million additional shares from the sponsors. All of the shares are being sold on a pro rata basis by the sponsors, which are existing stockholders of the company.

Allison will not receive any of the proceeds from the offering of shares by the sponsors. Closing of the offering is expected to occur on or about April 25, 2014.

Following the offering, Carlyle Group and Onex will continue to beneficially own an aggregate of 45,642,499 shares, or approximately 25% in the aggregate, of Allison's outstanding common stock after giving effect to the offering (or 41,892,499 shares, or approximately 23% in the aggregate, if the underwriter fully exercises its option to purchase additional shares).