Gardner Denver Announces Pricing of its Initial Public Offering
May 11 2017 - 8:09PM
Business Wire
Gardner Denver Holdings, Inc. (“Gardner Denver”) today announced
the pricing of its initial public offering of 41,300,000 shares of
its common stock at $20.00 per share. Shares of Gardner Denver’s
common stock are expected to begin trading on the New York Stock
Exchange on May 12, 2017 under the symbol “GDI,” and the offering
is expected to close on May 17, 2017, subject to customary closing
conditions. Gardner Denver has granted the underwriters a 30-day
option to purchase up to an additional 6,195,000 shares of its
common stock.
Gardner Denver will receive net proceeds of approximately $781
million after deducting underwriting discounts and commissions and
intends to use the net proceeds from the offering to redeem all
$575 million aggregate principal amount of its 6.875% senior
unsecured notes due 2021, to repay $160 million of borrowings under
its senior secured dollar term loan facility and to pay certain
expenses relating to this offering.
Goldman Sachs & Co. LLC, Citigroup, KKR Capital Markets, UBS
Investment Bank, Simmons & Company International (Energy
Specialists of Piper Jaffray), Deutsche Bank Securities, Baird,
Credit Suisse and Morgan Stanley are acting as bookrunners of the
offering, and William Blair, Stifel, HSBC, Macquarie Capital,
Credit Agricole CIB and Mizuho Securities are acting as co-managers
of the offering.
A registration statement, including a prospectus, relating to
the offering of shares of the common stock of Gardner Denver has
been declared effective by the U.S. Securities and Exchange
Commission. This press release shall not constitute an offer to
sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
The offering of these securities will be made only by means of a
prospectus. Copies of the prospectus may be obtained from Goldman
Sachs & Co. LLC, Prospectus Department at 200 West Street, New
York, NY 10282 or by telephone at 866-471-2526 or by facsimile at
212-902-9316, or by email at prospectusny@ny.email.gs.com; or
Citigroup Global Markets Inc., c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at
(800) 831-9146.
About Gardner Denver
Gardner Denver is a leading global provider of mission-critical
flow control and compression equipment and associated aftermarket
parts, consumables and services, which it sells across multiple
attractive end-markets within the industrial, energy and medical
industries. Its broad and complete range of compressor, pump,
vacuum and blower products and services, along with its application
expertise and over 155 years of engineering heritage, allows
Gardner Denver to provide differentiated product and service
offerings for its customers' specific uses. Gardner Denver supports
its customers through its global geographic footprint of 37 key
manufacturing facilities, more than 30 complementary service and
repair centers across six continents, and approximately 6,100
employees world-wide.
Forward Looking Statements
This press release includes certain disclosures which contain
“forward-looking statements.” You can identify forward-looking
statements because they contain words such as “believes” and
“expects.” Forward-looking statements are based on Gardner Denver’s
current expectations and assumptions. Because forward-looking
statements relate to the future, they are subject to inherent
uncertainties, risks and changes in circumstances that may differ
materially from those contemplated by the forward-looking
statements, which are neither statements of historical fact nor
guarantees or assurances of future performance. Important factors
that could cause actual results to differ materially from those in
the forward-looking statements are set forth in our filings with
the SEC, including our registration statement on Form S-1, as
amended from time to time, under the caption “Risk Factors.”
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version on businesswire.com: http://www.businesswire.com/news/home/20170511006552/en/
Gardner Denver Holdings, Inc.Media & Investor Relations
ContactVikram Kini(414) 212-4753vikram.kini@gardnerdenver.com
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