BUSINESS: Blue Bird Corporation Announces The Filing Of Form S-3 Shelf Register Statement

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by Daniel Webster, dWeb.News Publisher

FORT VALLEY, Ga.–(BUSINESS WIRE)–Blue Bird Corporation (NASDAQ: BLBD) announced today that it has filed a “universal shelf” registration statement on Form S-3 with the Securities and Exchange Commission (SEC) for the registration of shares of the Company’s Class A common stock, debt securities, preferred stock and/or warrants.

When declared effective by the SEC, the shelf registration statement will allow the Company to raise capital, up to an aggregate of $200.0 million. Future offerings will have specific details, including the terms and prices of securities, and how they will be used. This information will be disclosed in the prospectus supplement. The shelf registration statement will become effective once it is declared by the SEC. It will remain in effect for three or less years depending on whether the securities that are registered under the statement were issued or sold.

“Today’s shelf registration was filed within the ordinary course of business,” Razvan Radulescu, Chief Financial Officer at Blue Bird, stated. “We believe that it is prudent and fiscally responsible corporate governance to have an active shelf registry that allows us to continue flexibility in capital management. This is especially important in light of the huge growth opportunities presented by the Bipartisan Infrastructure Deal legislation.

A registration statement on Form S-3 was filed with the SEC, but is still not effective. The registration statement is not yet effective. Securities cannot be sold or offers to purchase may not be accepted before that time. This press release does not constitute an offer or solicitation to sell Securities. No sale of Securities will be made in any state where such an offer, solicitation, or sale would be illegal prior to registration or qualification.

About Blue Bird Corporation: Blue Bird (NASDAQ: BLBD) is the leading independent designer and manufacturer of school buses, with more than 550,000 buses sold since its formation in 1927 and approximately 180,000 buses in operation today. Blue Bird is a well-known American brand due to its longevity and strong reputation in the school bus sector. Blue Bird stands out from its main competitors because of its singular focus on school bus design, engineering, manufacturing, and sales. As the only manufacturer of chassis and body production specifically designed for school bus applications, Blue Bird is recognized as an industry leader for school bus innovation, safety, product quality/reliability/durability, operating costs and drivability. Blue Bird has a rich history of bringing new technology to the school bus space and is the undisputed leader in alternative-power school buses, having more than 20,000 low and zero emission buses on the road. Blue Bird produces school buses in two locations in Fort Valley, Georgia. The Micro Bird joint venture runs a manufacturing plant in Drummondville (Quebec), Canada. Blue Bird’s parts distribution centre in Delaware, Ohio distributes service and after-market parts. For more information on Blue Bird’s complete line of buses, visit www.blue-bird.com.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our expectations regarding future financial performance, business strategies and business expectations. Specifically, forward-looking statements include statements in this press release regarding guidance, seasonality, product mix and gross profits and may include statements relating to:

Inherent limitations of internal controls impacting financial statements
Growth opportunities
Future profitability
Ability to expand market share
Customer demand for certain products
Economic conditions (including tariffs) that could affect fuel costs, commodity costs, industry size and financial conditions of our dealers and suppliers
Labor or other constraints on the Company’s ability to maintain a competitive cost structure
Volatility in the tax base and other funding sources that support the purchase of buses by our end customers
Lower or higher than anticipated market acceptance for our products
Other statements preceded by, followed by or that include the words “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “target” or similar expressions

These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Forward-looking statements cannot be relied on as representing our views at any future date. We do not assume any obligation to revise forward-looking statement to reflect changes or circumstances, other than as required by applicable securities laws. The factors described above, as well as risk factors described in reports filed with the SEC by us (available at www.sec.gov), could cause our actual results to differ materially from estimates or expectations reflected in such forward-looking statements.

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