ASV announced January 5 that Caterpillar has exercised its warrant for the purchase of 1,040,069 shares of ASV common stock at $21.00 a share. Under the warrant, Caterpillar was required to either purchase the shares or lose the opportunity to acquire them. After the purchase, Caterpillar owns 21.8 percent of the outstanding common stock of ASV. According to ASV’s president, Gary Lemke, the money received from the sale of stock will help expand the product line and increase production.
Caterpillar purchases more ASV stock
Jan 19, 2004