Robbins & Myers (ticker: RBN, exchange: New York Stock Exchange (.N))
News Release -
Robbins & Myers Announces Offering of Common Shares
DAYTON, OHIO, May 3, 2002 . . .
Robbins & Myers, Inc. (NYSE: RBN) today announced that it has filed a registration statement with the Securities & Exchange Commission for the public offering of 2,000,000 of its common shares. Of the shares being offered, 1,550,000 are being offered by the Company and 450,000 by Randomat International B.V. The shares being offered by Randomat were issued by the Company in connection with its acquisition of Romaco N.V. In addition, the Company will grant the underwriters an option to purchase up to an additional 300,000 shares to cover over-allotments.
Robert W. Baird & Co. Incorporated will act as lead manager of the offering and McDonald Investments Inc. will act as co-manager. A preliminary prospectus, when available, may be obtained from Robert Baird & Co. Incorporated, 777 Wisconsin Avenue, Milwaukee, Wisconsin 53202 (Attention: Equity Syndicate). This document has also been filed with the Securities and Exchange Commission and is available over the Internet at the SEC's web site at http://www.sec.gov.
The net proceeds to the Company from the offering will be used to repay indebtedness under its revolving credit facility, thereby increasing the amount available for borrowing under this facility, which the Company intends to use for general corporate purposes, including the funding of acquisitions.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these 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.
Robbins & Myers, Inc. is a leading global supplier of application critical equipment and systems for the pharmaceutical, energy and industrial markets. The Dayton, Ohio based company has manufacturing operations in 16 countries.
The Company's common stock trades on the New York Stock Exchange under the symbol RBN.