QUINCY, Ill., March 10 /PRNewswire-FirstCall/ -- Gardner Denver, Inc.
(NYSE: GDI) announced today its intention to offer, subject to market and
other conditions, 3,000,000 shares of its common stock pursuant to an
effective shelf registration statement previously filed with the Securities
and Exchange Commission. In connection with the offering, Gardner Denver will
grant the underwriters an option to purchase up to an additional 450,000
shares of common stock from the Company to cover over-allotments, if any.
The Company expects to use the net proceeds from the offering for general
corporate purposes, which may include repayment of outstanding debt and
financing future acquisitions. Bear, Stearns & Co. Inc. will act as sole book
running manager for the offering with Robert W. Baird & Co. Incorporated,
McDonald Investments Inc., a Keycorp Company, and Morgan Joseph & Co. Inc.
acting as co-managers.
The offering may be made only by means of a prospectus and a related
prospectus supplement. A preliminary prospectus supplement related to the
offering will be filed with the Securities and Exchange Commission, copies of
which may be obtained when available from Bear, Stearns & Co. Inc., c/o
Prospectus Department at 383 Madison Avenue, New York, New York 10179,
(631) 274-8321.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
law of any such jurisdiction.
Gardner Denver, with 2003 revenues of $440 million, is a leading
manufacturer of reciprocating, rotary and vane compressors and blowers for
various industrial applications and pumps used in the petroleum and industrial
markets. Gardner Denver's news releases are available by visiting the Investor
Relations page on the Company's website ( http://www.gardnerdenver.com ).
SOURCE Gardner Denver, Inc.
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Related links:
http://www.gardnerdenver.com
Company News On-Call:
http://www.prnewswire.com/comp/303875.html
CONTACT:
Randall E. Schwedes, Treasurer of Gardner
Denver, Inc., +1-217-228-8224
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