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Specialty and RV manufacturer REV Group laid out its intent to make an initial public offering in a filing with the U.S. Securities and Exchange Commission on Monday (Oct. 24), saying it would prioritzie proceeds to pay down about $330 million in long-term debt.
The filing is the first public step in the process for the company, laying out an initial intent, along with recent financial data, and details would be amended as the deal moves forward.
The document omits pricing details, and does not include a timeline for the IPO. The company would trade under the symbol REVG, but has not yet selected an exchange.
REV would use the proceeds from the deal to pay down long-term debt, prioritizing about $195 million in outstanding senior secured notes. Any remaining funds would be spent on its $135 million debt in asset-based loans, according to the document. The company also reserved the right to make acquisitions with funds, but disclosed that the company is not currently in talks with any company regarding an acquisition.
The company reported a working capital of $301 million as of July 30.
