Blue Bird Corporation announced that it has filed a “universal shelf” registration statement on Form S-3 with the Securities and Exchange Commission (SEC) for registration of shares of the company’s Class A common stock, debt securities, preferred stock, and/or warrants.
The statement, when declared effective by the SEC, would have effect for as long as three years and will allow Blue Bird to raise up to an aggregate of $200 million.
The specifics of any future offering, as well as prices and terms of any such securities and the use of proceeds of a particularly offering, will be determined at the time of the offering, according to a Blue Bird news release.
“Today’s shelf registration was filed in the ordinary course of business,” said Razvan Radulescu, Blue Bird’s chief financial officer. “We believe it is both a prudent and fiscally responsible corporate governance practice to have an active shelf registration that provides us with continued flexibility in our capital management, and, especially in light of the tremendous growth opportunities provided by the recent Bipartisan Infrastructure Deal legislation, the company needs to be able to react swiftly to the rapidly evolving electric-vehicle space.”