|11/04/13 at 4:30 p.m. ET|
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|Barnes Group Announces Pricing of Offering|
BRISTOL, Conn.--(BUSINESS WIRE)--May 22, 2003--Barnes Group Inc. (NYSE: B) today announced the pricing of its public offering of 2,823,506 shares of its common stock at $19.00 per share. The offering, which includes 823,506 shares to be sold by an existing shareholder, GC-Sun Holdings II, L.P., is expected to close on May 28, 2003.
In addition, the Company granted to the underwriters of the public offering an option to purchase up to 423,525 additional shares to cover over-allotments.
Net proceeds to Barnes Group of approximately $35.5 million will be used to pay down existing indebtedness. Barnes Group will not receive any of the proceeds from the sale of the shares owned by GC-Sun Holdings.
Banc of America Securities LLC is serving as book-running manager of the offering. Co-managers of the offering are McDonald Investments Inc., Robert W. Baird & Co. and BB&T Capital Markets.
The offering of these securities may be made only by means of a prospectus and the related prospectus supplement. When available, copies of such documents may be obtained from the book-running manager at the following address: Banc of America Securities LLC, Prospectus Department, 100 West 33rd Street, New York, NY 10001.
Barnes Group Inc. (www.barnesgroupinc.com) is a diversified international manufacturer of precision metal components and distributor of industrial supplies, serving a wide range of markets and customers. Barnes Group consists of three businesses: Associated Spring, one of the world's largest manufacturers of precision mechanical and nitrogen gas springs; Barnes Aerospace, a manufacturer and repairer of highly engineered assemblies and products for commercial and military aircraft engines, airframes, and land-based industrial gas turbines; and Barnes Distribution, an international, full-service distributor of maintenance, repair and operating supplies.
CONTACT: Investor Relations Barnes Group Inc. Phillip J. Penn, 860/973-2126 or Corporate Communications Barnes Group Inc. Stephen J. McKelvey, 860/973-2132 SOURCE: Barnes Group Inc.