Generac Holdings Inc., Waukesha, Wis., parent company of generator manufacturer Generac Power Systems, Inc., has priced its initial public offering of 18,750,000 shares of its common stock at $13 per share. The shares began trading on The New York Stock Exchange on Feb. 11 under the ticker symbol “GNRC.” In addition, Generac Holdings Inc. has granted the underwriters a 30-day option to purchase up to an additional 2,812,500 shares at the initial public offering price.
News reports said the company had hoped to raise $335 million through the IPO, but raised an estimated $244.4 million after it had to lower its price from $15 to $17 per share it had initally wanted.
Archive for February 11th, 2010
Generac Launches IPO
Quanta Subsidiary Nails Contract for Largest PV Project in the Pacific Northwest
Potelco Inc., a subsidiary of Quanta Services Inc. based in Sumner, Wash., will be an equity partner and contractor for the design and construction of a proposed photovoltaic (PV) solar project located 90 miles east of Seattle. Teanaway Solar Reserve and Potelco will negotiate a contract for engineering, procurement and construction (EPC) services for the 75MW solar facility, which is expected to be the largest PV solar project in the Pacific Northwest to date and provide enough power for 45,000 households.
Once the project is ready to commence, Potelco plans to hire locally and provide the training necessary to complete the entire range of jobs required for installation of the 400,000 solar panels. The installation is expected to create an estimated 225 jobs during a two-year construction period, including groundmen, linemen, electricians, operators, engineers, project managers. Houston-based Quanta has also worked on utility-scale PV projects in Arizona, California, Colorado, New Jersey, Nevada and North Carolina.