MILWAUKEE, June 27 /PRNewswire-FirstCall/ -- Brady Corporation (NYSE:
BRC) today announced that it has completed a public offering of 4,000,000
shares of its Class A Common Stock at a price per share to the public of
$36.00.
Brady received approximately $137.0 million in net proceeds from the
sale of shares in this offering, after deducting underwriting discounts and
commissions and other estimated expenses of the offering. 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. The
underwriters have an option to purchase up to an additional 600,000 shares
to cover over- allotments, if any.
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 is 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 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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