Company Issues 658,000 Shares of Common Stock
QUINCY, Ill., May 12 /PRNewswire-FirstCall/ -- Gardner Denver, Inc.
(NYSE: GDI) announced today that in conjunction with the Company's previously
announced offering of 5,000,000 shares of common stock (completed May 4,
2005), the underwriters exercised their over-allotment option for 658,000
additional shares of common stock. All of the additional shares were sold by
the Company. After giving effect to the sale of these additional shares, a
total of 5,658,000 shares of common stock were publicly offered and sold by
the Company at a price of $37.00 per share. Gardner Denver intends to use the
proceeds from the sale of the shares, plus other available funds, to finance
its pending acquisition of Thomas Industries Inc. and to repay certain
outstanding indebtedness. If the acquisition is not completed, the proceeds
will be used to repay outstanding indebtedness. The closing of the
acquisition is subject to Thomas Industries' shareholder approvals, applicable
regulatory approvals and other customary conditions.
Bear, Stearns & Co., Inc. acted as the sole book-running manager in this
offering and J.P. Morgan Securities Inc. and KeyBanc Capital Markets, a
division of McDonald Investments, Inc., acted as co-managers.
This press release shall not constitute an offer to sell or a solicitation
of an offer to buy, nor shall there be any sale of the securities in any state
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.
The offering of common stock may be made only by means of the prospectus
supplement and prospectus, a copy of which is 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 2004 revenues of $740 million ($896 million on a pro
forma basis including the acquisition of Nash Elmo, which was completed in
September 2004), is a leading worldwide manufacturer of reciprocating, rotary
and vane compressors, liquid ring pumps and blowers for various industrial and
transportation applications, pumps used in the petroleum and industrial
markets, and other fluid transfer equipment serving chemical, petroleum, and
food industries. 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:
Helen W. Cornell, Vice President, Finance and
CFO, of Gardner Denver, Inc., +1-217-228-8209
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