Regal Beloit Closes Stock Offering, Announces Exercise of Underwriters' Over-Allotment Option
Regal Beloit Corporation (NYSE: RBC) announced today that it has completed its previously announced public offering of common stock at a price of $67.00 per share to the public. Regal Beloit also announced that the underwriters in the offering have exercised their option to purchase additional shares to cover over-allotments, resulting in a total sale to the public of 3,162,500 shares of common stock.
Regal Beloit expects to receive net proceeds from the offering of approximately $202.8 million after deducting underwriting discounts and commissions and estimated expenses of the offering.
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