WAUKESHA, WI (WTAQ) - Almost one of every five shares of a Waukesha company’s stock is about to go up for sale.
Generac, which makes emergency generators, says some of its stockholders plan to sell 11.5 million shares.
The sellers are connected with the CCMP Capital firm, along with its board members and senior management.
Generac says it is not selling any of its shares directly, and the sellers will get all of the proceeds. Also, buyers will get a chance to purchase a total of 1.7 million additional shares.
Generac has about 68 million shares outstanding. The price dropped by over 3 percent in pre-market trading Monday morning, to $34.13 a share.
It hit a 52 week high of $39.18 on November 5th – and that was helped by the sales of backup generators to Northeast areas hit by Superstorm Sandy. The low price for the stock was $18.35 in July.