Regal Beloit Corporation Completes Common Stock Offering, Announces
Exercise Of Underwriters' Over-Allotment Option
BELOIT, Wis., Dec. 18, 2012 /PRNewswire/ -- Regal Beloit
Corporation (NYSE: RBC) announced today that it has completed its
previously announced public offering of common stock at a price of
$67.00 per share to the public.
Regal Beloit also announced that the underwriters in the offering
have exercised their option to purchase additional shares to cover
over-allotments, resulting in a total sale to the public of
3,162,500 shares of common stock.
Regal Beloit expects to receive
net proceeds from the offering of approximately $202.8 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, Credit Suisse Securities
(USA) LLC, KeyBanc Capital Markets
Inc. and Piper Jaffray & Co
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.
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