Blue Bird raises $75M via private placement at $16/share; Coliseum Capital gets 15% stake, board seat

Blue Bird Corp

Blue Bird issued and sold $75M in common shares at $16.00 per share to clients of Coliseum Capital Management.
Coliseum receives a 15% stake; Adam Gray of Coliseum joins Board as Class II director, increasing board to 10.
Net proceeds to fund EV strategy, working capital, potential acquisitions, pay down revolver.
Company cites $5B in federal infrastructure funding for clean school buses as growth opportunity.

item 1.01 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Adam Gray

Director

BLBD · Blue Bird Corp

Effective: 2021-12-15
Filed: December 16, 2021, 6:59 PM ET

Mr. Adam Gray, an affiliate of the Subscribers and Coliseum Capital Management, LLC (“Coliseum”), was appointed as a Class II member of the Board on December 15, 2021.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Adam Gray was appointed as Director at Blue Bird Corp.

Action: appointed
Role: Director

Exact text from the filing

Mr. Adam Gray, an affiliate of the Subscribers and Coliseum Capital Management, LLC (“Coliseum”), was appointed as a Class II member of the Board on December 15, 2021.

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Blue Bird Corp filing history →

Source: SEC EDGAR

accession 0001589526-21-000142

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