SOUTH MILWAUKEE, Wis., May 10 /PRNewswire-FirstCall/ — Bucyrus International, Inc. (NASDAQ:BUCY) announced today that it has priced its public offering of 4,614,000 shares of Class A common stock at $66.35 per share. The underwriters have a 30-day option to purchase up to an additional 692,100 shares of Class A common stock. The public offering of the shares is expected to close on May 15, 2007.
The net proceeds from the offering will be approximately $292.3 million, without taking into account any exercise of the underwriters’ option to purchase additional shares. Bucyrus plans to use the net proceeds of the offering to repay a portion of its new term loan facility used to finance the acquisition of DBT GmbH.
The offering was marketed through a group of underwriters, including Lehman Brothers Inc. as sole-book running manager. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities. The offering is being made only by means of a prospectus and the related prospectus supplement. The prospectus and the related prospectus supplement may be obtained from Lehman Brothers Inc., c/o Broadridge, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717. An electronic copy of the prospectus and the related prospectus supplement also will be available from the Securities and Exchange Commission’s website at http://www.sec.gov/ .
About Bucyrus International, Inc.
Bucyrus International, Inc. is a world leader in the design and manufacture of high productivity mining equipment for the surface (BUCYRUS) and underground (DBT) mining industries. BUCYRUS equipment is used for mining coal, copper, iron ore, oil sands and other minerals and DBT equipment is used primarily for mining coal. In addition to machine manufacturing, Bucyrus and DBT manufacture high quality OE parts and provide world-class support services for their machines. Bucyrus International, Inc.’s headquarters is located in South Milwaukee, Wisconsin, USA.
First Call Analyst:
FCMN Contact: ahall@bucyrus.com
Source: Bucyrus International, Inc.
