Manitex International Inc has agreed to sell an aggregate of 1,375,000 shares of its common stock to certain investors, aiming to generate gross proceeds of USD14.8 million.

Manitex disclosed the definitive agreement with the investors in a prospectus supplement that was filed on 25 September with the US Securities and Exchange Commission.

Avondale Partners LLC of Nashville, Tennessee acted as the lead placement agent. Roth Capital Partners LLC, based in Newport Beach, California and The Benchmark Co LLC of New York acted as co-placement agents for the registered direct offering.

The investors agreed to purchase the stock for a price of USD10.75 per share.

Manitex says it will use the net proceeds after deductions for placement agents' fees and offering expenses for the repayment of indebtedness and general corporate purposes. Manitex says that "may include future acquisitions".

Bridgeview-headquartered Manitex manufactures cranes, reach stackers and associated container handling equipment, rough-terrain forklifts, indoor electric forklifts and special mission-oriented vehicles and reported profit of USD8.1 million on 2012 sales of USD205.2 million. Among others, Manitex brands include Liftking, Lowry, Schaeff and CVS Ferrari.