MILWAUKEE, June 21 /PRNewswire-FirstCall/ -- Brady Corporation (NYSE:
BRC) today announced that the public offering of 4,000,000 shares of its
Class A Common Stock was priced at $36.00 per share to the public. The
shares are being offered pursuant to an effective shelf registration
statement that was previously filed with the U.S. Securities and Exchange
Commission. The Company expects delivery of the shares to occur on June 27,
2006.
The Company has granted a 30-day option to the underwriters to purchase
up to 600,000 additional shares of Class A Common Stock solely to cover
over- allotments, if any. The company intends to use the net proceeds from
the offering to repay amounts under its revolving credit facility and for
general corporate purposes, including potential future acquisitions.
The offering was marketed through a group of underwriters, including
sole bookrunning manager Robert W. Baird & Co.; co-lead managers Credit
Suisse and Wachovia Securities; and co-manager BMO Capital Markets.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy any securities. The offering is being made
only by means of a prospectus supplement, a copy of which may be obtained
from the offices of Robert W. Baird & Co., 777 East Wisconsin Avenue, 28th
Floor, Milwaukee, Wisconsin 53202-5391. An electronic copy of the
prospectus supplement and related prospectus will be available on the
Securities and Exchange Commission's website at http://www.sec.gov .
Brady Corporation is a leading global manufacturer and marketer of
identification solutions and specialty products that identify and protect
premises, products and people. Its products include high-performance labels
and signs, safety devices, printing systems and software, and precision
die- cut materials.
Brady believes that certain statements in this news release are
"forward- looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. All statements related to future, not past,
events included in this news release, including, without limitation,
statements regarding Brady's future financial position, business strategy,
targets, projected sales, costs, earnings, capital expenditures, debt
levels and cash flows, and plans and objectives of management for future
operations are forward-looking statements. When used in this news release,
words such as "may," "will," "expect," "intend," "estimate," "anticipate,"
"believe," "should," "project" or "plan" or similar terminology are
generally intended to identify forward-looking statements. These
forward-looking statements by their nature address matters that are, to
different degrees, uncertain and are subject to risks, assumptions and
other factors, some of which are beyond Brady's control, that could cause
actual results to differ materially from those expressed or implied by such
forward-looking statements. For Brady, uncertainties arise from
unanticipated issues associated with the closing of the public offering;
future financial performance of major markets Brady serves, which include,
without limitation, telecommunications, manufacturing, electrical,
construction, laboratory, education, governmental, public utility,
computer, transportation; difficulties in making and integrating
acquisitions; risks associated with newly acquired businesses; Brady's
ability to retain significant contracts and customers; future competition;
Brady's ability to develop and successfully market new products; changes in
the supply of, or price for, parts and components; increased price pressure
from suppliers and customers; interruptions to sources of supply;
environmental, health and safety compliance costs and liabilities; Brady's
ability to realize cost savings from operating initiatives; Brady's ability
to attract and retain key talent; difficulties associated with exports;
risks associated with international operations; fluctuations in currency
rates versus the US dollar; technology changes; potential write-offs of
Brady's substantial intangible assets; risks associated with obtaining
governmental approvals and maintaining regulatory compliance for new and
existing products; business interruptions due to implementing business
systems; and numerous other matters of national, regional and global scale,
including those of a political, economic, business, competitive and
regulatory nature contained from time to time in Brady's U.S. Securities
and Exchange Commission filings, including, but not limited to, those
factors listed in the "Risk Factors" section located in Item 1A of Part II
of Brady's Quarterly Report on Form 10-Q for the period ended April 30,
2006. These uncertainties may cause Brady's actual future results to be
materially different than those expressed in its forward-looking
statements. Brady does not undertake to update its forward-looking
statements.
SOURCE Brady Corporation
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