Accelevation Prices 30 Mln Share IPO At $18/shr

(RTTNews) - Accelevation Holdings Corp. (ACCV) on Tuesday announced the pricing of its initial public offering of 30 million Class A common shares at $18 per share.

The company is offering 10 million shares.

The offering is expected to close on October 1.

The company said that certain selling stockholders affiliated with Olympus Partners are offering 20 million shares.

The selling stockholders have also granted the underwriters a 30-day option to purchase up to an additional 4.5 million shares at the IPO price.

The shares are expected to begin trading on the Nasdaq Global Select Market on Wednesday under the ticker symbol "ACCV."

The company intends to use the net proceeds to purchase newly issued units in Accelevation Holdings LLC.

The LLC plans to use the proceeds to repay debt, pay offering and organizational transaction expenses, and for general corporate purposes.

The company said it will not receive any proceeds from the sale of shares by the selling stockholders.