Shiloh Industries Inc. has announced the pricing of its previously announced underwritten public offering of 5 million newly issued shares of its common stock at a public offering price of $8.25 per share.

In connection with the offering, the company and a pension trust affiliated with MTD Products Inc., a shareholder of the company, granted the underwriters a 30-day option to purchase up to 750,000 shares of the company’s common stock. If the underwriters purchase 500,000 or fewer shares of the company’s common stock pursuant to their option, all such shares will be purchased from the selling stockholder. Any shares purchased by the underwriters pursuant to their option in excess of 500,000 will be purchased from the company.

The offering is expected to close on or about July 19, subject to customary closing conditions. The company intends to use the net proceeds of the offering to repay borrowings under its revolving credit facility.