Actuant Announces Plans to Offer Common Stock.Business Editors MILWAUKEE--(BUSINESS WIRE)--Jan. 23, 2002 Actuant Corporation (NYSE NYSE See: New York Stock Exchange :ATU (ADSL Transceiver Unit) A device that provides ADSL modulation of the telephone line. The device at the telco side is the ATU-C (Central), which is a line card plugged into the DSLAM. ) announced today that it has filed a preliminary prospectus Preliminary Prospectus A first draft registration statement filed by a firm prior to proceeding with an initial public offering of securities. The document, filed with the Securities & Exchange Commission, is intended to provide pertinent information to prospective shareholders supplement with the Securities and Exchange Commission relating to a proposed public offering of three million shares of its Class A common stock. The Company has also granted the Underwriters an option to purchase up to 15% additional shares to cover over-allotments, if any. Wachovia Securities will serve as lead manager and ABN AMRO Rothschild LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , Robert W. Baird Robert Wilson Baird (born April 1, 1883) helped found the financial services firm that bears his name and led it for more than 40 years. Baird’s father was a professor of Greek literature at Northwestern University in Evanston, Illinois, where Baird grew up. & Co., and Bear Stearns & Co. Inc., will serve as co-managers for this offering. Net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the offering will be used to reduce debt, including up to $70 million of the Company's 13% Senior Subordinated Notes due 2009. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any offer of these securities in any State in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. A copy of the preliminary prospectus supplement and prospectus relating to the offering may be obtained from Wachovia Securities, 7 St. Paul Street, First Floor, Baltimore, Maryland 21202 (Attention: Equity Syndicate Desk). These documents have also been filed with the Securities and Exchange Commission and are available over the Internet at the SEC's web site at http://www.sec.gov. Actuant, headquartered in Milwaukee, Wisconsin, is a diversified industrial company with operations in 15 countries. The Actuant businesses have a leading position in highly engineered position and motion control systems and branded tools. Products are offered under such established brand names as Enerpac, Gardner Bender, Milwaukee Cylinder, Nielsen Sessions, Power-Packer, and Power Gear. Important Notice: Wachovia Securities is the trade name under which Wachovia Corporation conducts its investment banking, capital markets and institutional securities business through First Union Securities, Inc. ("FUSI FUSI First Union Securities, Inc. FUSI Fully-Silicided "), Member NYSE, NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). , SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. , and through other bank and non-bank and broker-dealer subsidiaries of Wachovia Corporation, including Wachovia Bank NA and First Union National Bank. Safe Harbor Statement Statements in this press release contain "forward-looking" information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve a number of risks and uncertainties, including investor response to the proposed offering, the trading prices for the Company's common stock during the offering period, other conditions in the financial markets and customary closing conditions. Please see the Company's filings with the Securities and Exchange Commission for a discussion of other factors that may affect forward-looking information. |
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