March 22, 2010 (FinancialWire) — Commercial Vehicle Group, Inc. (NASDAQ: CVGI) announced TODAY that it priced a public offering of 3.8 million shares of common stock at a price of $6.25 per share to the public.

The company will grant the underwriter in the offering an option to purchase up to 570,000 additional shares of common stock at the same price per share to cover any over-allotments. The offering is scheduled to close on March 24.

Commercial Vehicle said it expects to receive net proceeds from the offering of around $22 million, assuming no exercise of the underwriter's over-allotment option.

The company plans to use the net proceeds from the offering for general corporate and working capital purposes, including the funding of strategic initiatives that the company may undertake from time to time.

Ohio-based Commercial Vehicle is a supplier of fully integrated system solutions for the global commercial vehicle market, including the heavy-duty truck market, the construction and agriculture market and the specialty and military transportation markets.

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