INDIANAPOLIS – Allison Transmission Holdings has announced the sale of 25 million shares of its common stock by investment funds affiliated with The Carlyle Group and Onex Corp (the sponsors). In addition, the underwriter will have an option to purchase up to 3,750,000 additional shares from the sponsors.
 
All of the shares are being sold on a pro rata basis by the sponsors, which are existing stockholders of Allison Transmission Holdings Inc. (Allison), in accordance with their current interests. Allison will not receive any of the proceeds from the offering of shares by the sponsors. Closing of the offering is expected to occur on or about April 25, subject to customary closing conditions.
 
Citigroup is acting as the sole underwriter for the offering. Citigroup proposes to offer the shares of common stock from time to time to purchasers directly or through agents, or through brokers in brokerage transactions on the New York Stock Exchange, or to dealers in negotiated transactions or in a combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.
 
Following the offering, the sponsors will continue to beneficially own an aggregate of 45,642,499 shares, or approximately 25 percent in the aggregate, of Allison’s outstanding common stock after giving effect to the offering (or 41,892,499 shares, or approximately 23 percent in the aggregate, if the underwriter fully exercises its option to purchase additional shares).