Regal Beloit Corporation Completes Common Stock Offering, Announces Exercise of Underwriter's Over-allotment Option
22 Mai 2009 - 10:43PM
PR Newswire (US)
BELOIT, Wis., May 22 /PRNewswire-FirstCall/ -- Regal Beloit
Corporation (NYSE:RBC) announced today that it has completed its
previously announced public offering of common stock at a price of
$36.25 per share to the public. Regal Beloit also announced that
the underwriter in the offering has exercised its option to
purchase additional shares to cover over-allotments, resulting in a
total sale to the public of 4,312,500 shares of common stock. Regal
Beloit expects to receive net proceeds from the offering of
approximately $150.6 million after deducting underwriting discounts
and commissions and estimated expenses of the offering. Regal
Beloit will use the net proceeds from the offering for general
corporate and working capital purposes, including the potential
repayment of long-term debt and the funding of future acquisitions.
Robert W. Baird & Co. acted as underwriter for the offering.
The offering is being made only by means of a prospectus and
related prospectus supplement, copies of which may be obtained from
the offices of Robert W. Baird & Co. Incorporated, 777 East
Wisconsin Avenue, 28th Floor, Milwaukee, Wisconsin 53202-5391, or
by calling 1-800-792-2413. Electronic copies of the prospectus and
the prospectus supplement are available on the Securities and
Exchange Commission's Web site at http://www.sec.gov/. This press
release does not constitute an offer to sell these securities or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction. About Regal Beloit Corporation Regal
Beloit Corporation is a leading manufacturer of mechanical and
electrical motion control and power generation products serving
markets throughout the world. Regal Beloit Corporation is
headquartered in Beloit, Wisconsin, and has manufacturing, sales,
and service facilities throughout the United States, Canada,
Mexico, Europe and Asia. DATASOURCE: Regal Beloit Corporation
CONTACT: David A. Barta, Vice President, Chief Financial Officer of
Regal Beloit Corporation, +1-608-361-7405 Web Site:
http://www.regal-beloit.com/
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