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Allison Transmission Announces Secondary Offering And Repurchase Of Shares Of Common Stock

INDIANAPOLIS, June 3, 2014 /PRNewswire/ --  Allison Transmission Holdings Inc. (NYSE: ALSN), announced today the sale of 35,000,00 shares of its common stock by investment funds affiliated with The Carlyle Group and Onex Corporation (the "Sponsors").  In addition, the underwriter will have an option to purchase up to 5,250,000 additional shares from the Sponsors.  All of the shares are being sold on a pro rata basis by the Sponsors, which are existing stockholders of Allison Transmission Holdings Inc. ("Allison"), in accordance with their current interests.  Allison will not receive any of the proceeds from the offering of shares by the Sponsors. Closing of the offering is expected to occur on or about June 9, 2014, subject to customary closing conditions.
Allison Transmission Inc. logo

Subject to completion of the offering, Allison will repurchase from the underwriter 5,000,000 of the 35,000,000 shares of common stock being sold by the Sponsors. Allison's per-share purchase price for the repurchased shares will be the same as the per-share purchase price payable by the underwriter to the Sponsors. The repurchased shares will no longer be outstanding following completion of the offering.  Allison intends to fund the repurchase with cash on hand.

Citigroup is acting as the sole underwriter for the offering. Citigroup proposes to offer the shares of common stock from time to time to purchasers directly or through agents, or through brokers in brokerage transactions on the New York Stock Exchange, or to dealers in negotiated transactions or in a combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.

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