Blue Bird Corporation (“Blue Bird” or the “Company”) (NASDAQ:BLBD), a leader in electric and low-emission school buses, announced today the pricing of an underwritten secondary public offering by certain stockholders of Blue Bird (the “Selling Stockholders”) of 4,500,000 shares of Blue Bird’s common stock, par value $0.0001 per share (the “Common Stock”), at a price to the public of $20.00 per share. The offering is expected to close on June 12, 2023, subject to the satisfaction of customary closing conditions. The offering consists entirely of secondary shares to be sold by the Selling Stockholders. The Selling Stockholders will receive all of the proceeds from the offering. The Company is not selling any shares of Common Stock in the offering and will not receive any proceeds from the offering.
In addition, the Selling Stockholders have granted the underwriters a 30-day option to purchase up to an additional 675,000 shares of Common Stock at the public offering price, less underwriting discounts and commissions.
BofA Securities and Barclays are acting as joint lead book-running managers for the offering and as representatives of the underwriters. Jefferies, BMO Capital Markets and Piper Sandler will also act as joint book-running managers and Craig-Hallum, D.A. Davidson & Co., Roth Capital Partners and Academy Securities will act as co-managers for the proposed offering.
