Brady Corporation Announces Completion of Public Offering of Common Stock
June 27 2006 - 5:30PM
PR Newswire (US)
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. DATASOURCE:
Brady Corporation CONTACT: Barbara Bolens of Brady Corporation,
+1-414-438-6940 Web site: http://www.bradycorp.com/ Company News
On-Call: http://www.prnewswire.com/comp/952350.html
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