The company intends to use the net proceeds from the sale of the stock to repay a portion of its debt under its multi-year credit facility. The company anticipates that the proposed stock offering will proceed in the second quarter.
A.O. Smith, headquartered in Milwaukee, is a manufacturer of fractional horsepower, hermetic, and integral horsepower electric motors, residential water heaters, commercial water heating equipment, and hydronic boilers.
Publication date: 04/15/2002