WOOD DALE, Ill., May 14, 2013 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (OTCBB:PSIX), a leader in the design, engineering and manufacture of emissions-certified alternative-fuel and conventional power systems, today announced that it has filed a registration statement with the U.S. Securities and Exchange Commission (the "SEC") relating to a proposed public offering of 1,700,000 shares of its common stock, plus up to an additional 255,000 shares of its common stock subject to the exercise of the underwriters' over-allotment option. Of these shares, 1,000,000 shares will be issued and sold by the Company and 700,000 shares, plus up to an additional 255,000 shares subject to the exercise of the underwriters' over-allotment option, will be sold by certain selling stockholders. The Company will not receive any proceeds from the sale of shares by the selling stockholders.
Craig-Hallum Capital Group LLC is acting as sole book-running manager of the proposed offering, with Roth Capital Partners, LLC acting as co-lead manager.
The registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained, when available, from Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, Attention: Bart Federak, Phone 612-334-6357 / Fax 612-334-6348, Email: bart.federak@craig-hallum.com; or from Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, California 92660, Attention: Equity Capital Markets, Phone (800) 678-9147 / Fax (949) 720-7227, Email: rothecm@roth.com.
About Power Solutions International, Inc.
Power Solutions International, Inc. (PSI) is a leader in the design, engineering and manufacture of emissions-certified, alternative-fuel power systems. PSI provides integrated turnkey solutions to leading global original equipment manufacturers in the industrial and on-road markets. The company's unique in-house design, prototyping, engineering and testing capacities allows PSI to customize clean, high-performance engines that run on a wide variety of fuels including natural gas, propane, biogas, diesel and gasoline.
PSI develops and delivers complete .97 to 22 liter power systems, including the new 8.8 liter engine aimed at the industrial and on-road markets including medium duty fleets, delivery trucks, school buses and garbage/refuse trucks. PSI power systems are currently used worldwide in power generators, forklifts, aerial lifts, and industrial sweepers, as well as in oil and gas, aircraft ground support, agricultural and construction equipment.