Douglas Dynamics prices secondary offering

Douglas Dynamics, a Milwaukee snowplow manufacturer, has announced its secondary offering of 1,996,479 shares of common stock will be available to the public at $14.75 per share.
The offering comes from only some of its stockholders, namely Los Angeles private investment firm Aurora Capital Group. Douglas will not sell any of its shares and will not receive the proceeds of the offering.
Robert W. Baird & Co. Inc. is managing the offering, which is expected to close today.
Michael Marino and Mark Rosenbaum of Aurora Capital Group are leaving Douglas’ Board of Directors after the firm sells its stake in the company.
Rosenbaum has served on the board since 2005 and Rosenbaum since 2009.
“In light of the resignations, the Board has adopted a resolution reducing the size of the Board from nine to seven members,” the company said in a release.
 Douglas, which makes the Western, Fisher and Blizzard brands, also makes sand and salt spreaders for ice control.

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