StarTribune.com reports that ASV LLC has filed an initial registration with the Securities and Exchange Commission for an initial public offering that could raise $36 million.
ASV had been a subsidiary of Terex Corp., but in the SEC filing, ASV laid out some of the accomplishments it's made under the Manitex joint venture, including a relaunch of the ASV brand, a new logo, an increased product range of compact track and skid steer loaders, and an improved sales and distribution network.
As part of the offering, ASV LLC would convert its name to ASV Holdings Inc. Its headquarters would remain in Grand Rapids, according to the filing made last week. The initial filing does not disclose how many shares will be offered, the percentage of shares to be offered or an offering price.
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