RACINE, Wis. -- Modine Manufacturing Co. has successfully completed its previously announced public offering of 13.8 million shares of its common stock at $7.15 per share. The number of shares includes 1.8 million shares sold pursuant to the exercise of the underwriters' over-allotment option.
The company received net proceeds from the offering of approximately $93 million after deducting underwriting discounts and commissions and estimated expenses of the offering. Modine intends to use the net proceeds from the offering to reduce debt and for general corporate purposes.
