Beloit-based Regal Beloit Corp., a manufacturer of mechanical and electrical motion control and power generation products, announced last week that it had completed a public offering of more than 4.3 million shares of common stock to the general public. The company expects to generate more than $150 million in net proceeds from the sale, after deducting underwriting discounts and commissions, and other expenses.
Regal Beloit will use the proceeds from the sale for general corporate and working capital purposes, which could include repayment of long-term debt and funding of future acquisitions.
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Underwriting for the offering was provided by Milwaukee’s R.W. Baird & Co.
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