QUINCY, Ill., March 29 /PRNewswire-FirstCall/ -- Gardner Denver, Inc.
(NYSE: GDI) announced today the completion of its public offering of 3,450,000
shares of its common stock, which included the exercise in full of the
underwriters' option to purchase 450,000 shares of common stock to cover over-
allotments. The public offering price of the shares was $24.50. The shares
were issued pursuant to an effective shelf registration statement previously
filed with the Securities and Exchange Commission.
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. was 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. were
co-managers.
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 were filed with the Securities and Exchange
Commission, copies of which may be obtained 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, Inc., +1-217-228-8224
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