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FLIBS 2013: Grand Banks announces $10 million stock offering - Trade Only Today

FLIBS 2013: Grand Banks announces $10 million stock offering

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FORT LAUDERDALE — Grand Banks Yachts offered $10 million in stock to its shareholders to fund new product development, acquisitions, training and equipment, company officials Tucker West and Bruce Livingston Jr. said Wednesday at the Fort Lauderdale International Boat Show.

West, Grand Banks’ North American sales manager, and Livingston, the company’s production director, noted the stock offering while talking to Active Interest Media Marine Group editors about the introduction of the 50 Eastbay SX at the show.

Tucker also said Grand Banks is interested in acquiring companies that could share its plant in Malaysia or possibly build smaller Grand Banks boats in the United States that it cannot build economically in Malaysia because of the cost of transporting them to this country for sale.

He said the company is eyeing three new models and plans to introduce one of them in February at the Miami International Boat Show, where it will announce a three-year plan.

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