BUZZ-Alliance Laundry slips as sponsor BDT Capital Partners looks to trim stake - ALH News | RalliesBUZZ-Alliance Laundry slips as sponsor BDT Capital Partners looks to trim stake
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ALH• Ownership and listing details
- ALH had 203.4 million diluted outstanding shares as of June 30, according to the offering prospectus.
- BDT Capital Partners owns a 70.8% stake in ALH, which went public in New York last year after its IPO was priced at $22 apiece.
Analyst backdrop and recent performance
- Seven of eight brokerages rate the stock "buy" or higher and one rates it "hold"; the median price target is $32, according to data compiled by LSEG.
- As of the last close, ALH stock was up 25.2% year to date.
Shares fall after sponsor offering announced
- Alliance Laundry Systems' ALH.N shares fell 6.8% to $23.73 in premarket trading.
- The commercial laundry systems maker unveiled a public offering of 20.5 million shares by sponsor BDT Capital Partners.
- ALH plans to purchase from underwriters roughly $75 million of shares sold in the offering.
- BofA Securities and J.P. Morgan are acting as joint book-running managers for the offering.
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