Commercial Vehicles

Smith files for IPO

Smith Electric Vehicles Corp, which designs produces and sells zero-emission commercial electric vehicles to commercial fleet operators, has filed a registration statement with the US Securities and Exchange Commission for an initial public offering of its common stock.

The number of shares to be offered and the price range for the offering have not yet been determined. The shares of common stock to be sold in this offering (including the shares of common stock that may be sold to satisfy the underwriters over-allotment option) would be sold by Smith Electric Vehicles Corp and by certain of its stockholders.

UBS Investment Bank and BofA Merrill Lynch are acting as the joint book-running managers for the offering.

Smith Electric Vehicles Corp’s electric vehicles are designed to be an alternative to traditional diesel trucks with higher efficiency and lower total cost of ownership. Its vehicle designs leverage more than 80 years of market knowledge from selling and servicing electric vehicles in the UK. Smith Electric Vehicles produces the Newton and the Edison. The company operates manufacturing facilities in Kansas City, Mo, and outside of Newcastle, UK.