BELOIT, Wis., Dec. 13, 2012 /PRNewswire/ -- Regal Beloit
Corporation (NYSE:RBC) announced today that it priced a public
offering of 2,750,000 shares of common stock at a price of
$67.00 per share to the public.
Regal Beloit has granted the underwriters in the offering an option
to purchase up to 412,500 additional shares of common stock at the
same price per share to cover any over-allotments. The public
offering of the shares is expected to close on December 18, 2012.
Assuming no exercise of the underwriters' over-allotment option,
Regal Beloit expects to receive net proceeds from the offering of
approximately $176.3 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 funding of future
acquisitions.
Robert W. Baird & Co. Incorporated and Credit Suisse
Securities (USA) LLC acted as
underwriters 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 Robert W. Baird & Co.
Incorporated, 777 East Wisconsin Avenue, 28th Floor, Milwaukee, Wisconsin 53202-5391, or by calling
1-800-792-2473, or from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department,
One Madison Avenue, New York, NY
10010, or telephone: 1-800-221-1037, or email:
newyork.prospectus@credit-suisse.com. Electronic copies of
the prospectus and the prospectus supplement are available on the
Securities and Exchange Commission's website at www.sec.gov.
The shares are being offered pursuant to an effective
registration statement. 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.
Regal Beloit Corporation is a leading manufacturer of electric
motors, mechanical and electrical motion controls and power
generation products serving markets throughout the world.
Regal Beloit is headquartered in Beloit,
Wisconsin, and has manufacturing, sales and service
facilities throughout the United
States, Canada,
Mexico, Europe and Asia. Regal Beloit's common
stock is a component of the S&P Mid Cap 400 Index and the
Russell 2000 Index.
SOURCE Regal Beloit Corporation