07.03.2005

JLG to sell shares in public offering

JLG Industries Inc. has announced its intention, “subject to market and other conditions”, to sell 4,700,000 shares of common stock in an underwritten public offering made from a shelf registration that became effective in December 2003. The underwriters will have an option to purchase up to an additional 705,000 shares to cover over-allotments.

JLG intends to use approximately $68.1 million of the net proceeds from the offering to redeem up to 35 percent of its outstanding 8 3/8 percent senior subordinated notes due in 2012 and to use the balance for general corporate purposes.

This offering will increase the number of shares outstanding by between 10 and 11 percent and based on the current share price should raise around $100 million.