Smith Electric Vehicles preparing for IPO and good cash flow

has been patiently waiting to go public on Wall Street, and the time might soon arrive . The Kansas City, MO-based maker of electric delivery vehicles supplies trucks to clients such as Coca-Cola, FedEx Corp. and DHL, and filed for its initial public offering in November. UBS Investment Bank, Deutsche Bank Securities and Barclays are lead underwriters for the deal, which is expected to contain 4.45 million shares at between $16 and $18 in its IPO. Smith Electric Vehicles expects to sell 4.2 million of those shares in the offering (selling stock holders will offer the rest) and the Nasdaq IPO is expected to bring in about $76 million. The proceeds raised will primarily be used for paying down debt. The U.S.-based company was purchased in 2011 from its UK-based parent company, which has been in operation in Europe since the 1920s. Smith Electric Vehicles puts out the Smith N...

Full article: http://green.autoblog.com/2012/09/12/smith-electric-vehic...

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Smith Electric Vehicles preparing for IPO and good cash flow [link]