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WELBILT CORPORATION ANNOUNCES REGISTRATION STATEMENT DECLARED EFFECTIVE FOR INITIAL OFFERING OF COMMON STOCK

 STAMFORD, Conn., Nov. 18 /PRNewswire/ -- Welbilt Corporation (NASDAQ-NMS: WBLT) announced today that the Securities and Exchange Commission has declared effective Welbilt's Registration Statement relating to an initial public offering of 4,832,432 shares of its common stock. The company is offering 3,700,000 shares and Selling Stockholders are selling 1,132,432 shares. None of the selling stockholders are officers, directors, or affiliates of the company. The public offering price is $18.00 per share. Donaldson, Lufkin & Jenrette Securities Corporation and CS First Boston Corporation are the managing underwriters of the offering. The underwriters have been granted an option for an additional 555,000 shares by the company at the same price solely to cover over-allotments.
 Welbilt intends to use the net proceeds of the offering to redeem or purchase the approximately $55 million principal amount outstanding of its 13-3/4 percent senior subordinated notes due 1998, to pay premiums associated with such early redemption or purchase and to temporarily reduce its borrowings under its revolving credit facility.
 Welbilt corporation is a leading manufacturer of commercial foodservice equipment servicing primarily the cooking and warming segment of the retail foodservice industry. Welbilt is also a distributor and manufacturer of certain consumer appliances.
 -0- 11/18/93
 /CONTACT: David C. Bevan, vice president and CFO or Daniel Yih, vice president of strategic planning, 203-325-8300/
 (WBLT)


CO: Welbilt Corporation ST: Connecticut IN: SU:

TM-WB -- NY005 -- 5854 11/18/93 08:01 EST
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Publication:PR Newswire
Date:Nov 18, 1993
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