April 12, 2002
A. O. Smith Corporation files with the SEC for public offering of its common stock
Milwaukee, Wis.—A. O. Smith Corporation (AOS-NYSE, SMCA-AMEX) announced today that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed underwritten public offering of 3,500,000 shares of its common stock. All of the shares are to be offered by A. O. Smith.
The company intends to use the net proceeds from the sale of the common stock to repay a portion of its indebtedness under its multi-year credit facility. The company currently anticipates that the proposed stock offering will commence in the second quarter.
Robert W. Baird & Co. is the lead underwriter and Banc of America Securities LLC and Bear, Stearns & Co. Inc. are the co-managers for the proposed offering. When available, copies of the preliminary prospectus may be obtained from Robert W. Baird & Co., 777 East Wisconsin Avenue, Milwaukee, Wisconsin 53202. The underwriters would have an option to purchase up to 525,000 additional shares of common stock to cover over-allotments.
A. O. Smith Corporation, with headquarters in Milwaukee, Wis., is a leading manufacturer of fractional horsepower, hermetic, and integral horsepower electric motors and residential water heaters, commercial water heating equipment, and hydronic boilers.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration
statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.