QUINCY, Ill., March 23 /PRNewswire-FirstCall/ -- Gardner Denver, Inc.
(NYSE: GDI) announced today the pricing of a public offering of 3,000,000
shares of its common stock at a price of $24.50 per share. The offered shares
will be issued pursuant to an effective shelf registration statement
previously filed with the Securities and Exchange Commission. In connection
with the offering, Gardner Denver has also granted the underwriters an option
to purchase up to 450,000 additional shares of common stock from the Company,
within 30 days, 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. is the sole book-
running manager for the offering and Robert W. Baird & Co. Incorporated,
McDonald Investments Inc., A KeyCorp Company, and Morgan Joseph & Co. Inc. are
co-managers. The closing of the offering is expected to occur on March 29,
2004 and is subject to customary closing conditions.
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. The final prospectus supplement and prospectus
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.
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, +1-217-228-8224
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