Columbus McKinnon (CMCO) Prices 3.75M Share Upsized Common Offering at $48/Sh

Columbus McKinnon Corporation (NASDAQ: CMCO) (the “Company” or “Columbus McKinnon”), a leading designer and manufacturer of intelligent motion solutions for material handling, today announced the pricing of an upsized underwritten public offering of 3,750,000 shares of its common stock at a price of $48.00 per share for total gross proceeds of $180.0 million. The offering was upsized from the previously announced size of $150.0 million. The offering is expected to close on May 4, 2021, subject to customary closing conditions.

The Company has granted the underwriters in the offering an option for a period of 30 days to purchase up to an additional 562,500 shares of the Company’s common stock.

The Company expects the net proceeds from the offering to be approximately $172.4 million (or $198.2 million if the underwriters exercise their option to purchase additional shares in full), after deducting underwriting discounts but before expenses. The Company intends to use all of the net proceeds from the offering (including the net proceeds if the underwriters exercise their option to purchase additional shares of common stock) to repay in part outstanding borrowings under its first lien term facility.

J.P. Morgan is acting as lead book-running manager. Wells Fargo Securities and PNC Capital Markets LLC are acting as additional joint book-running managers for the offering.

A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on April 29, 2021.

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