Trimble Navigation Limited
935 Stewart Drive
Post Office Box 3642
Sunnyvale, CA 94085
Trimble Announces Filing of $100 Million Common Stock Shelf Registration Statement
SUNNYVALE, Calif., March 7, 2003 -- Trimble (Nasdaq: TRMB) today filed a common stock shelf registration statement with the Securities and Exchange Commission to sell up to $100 million of its common stock from time to time. Upon effectiveness of the registration statement, Trimble may periodically sell common stock in amounts, prices, and on terms to be announced when the securities are offered.
The Company said that it plans to use the net proceeds of any offering of these securities for general corporate purposes, which may include repayment of debt, working capital, capital expenditures, possible acquisitions and any other purpose that Trimble may specify in any supplemental filing.
The registration statement has been filed with the Securities and Exchange Commission on Form S-3, but has not yet become effective. These shares may not be sold, nor will offers to buy them be accepted, prior to the time the registration statement becomes effective and a prospectus supplement setting forth the specific terms of the applicable offering is available. This press release shall not constitute an offer to sell or solicit an offer to buy, nor will 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 law of any such state. Any offer of these securities will be made solely by means of the prospectus included in the registration statement and any prospectus supplement that may be issued with respect to such offering. Copies of the prospectus may be obtained from Irwin Kwatek at 645 North Mary Avenue, Sunnyvale, CA 94088.
Trimble is an innovator of Global Positioning System (GPS) technology. In addition to providing advanced GPS components, Trimble augments GPS with other positioning technologies, as well as wireless communications and software, to create complete customer solutions.
Certain statements made in this press release are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements include the expected sale of common stock in the future and the use of proceeds from the sale of securities to pay down debt or for other corporate purposes. Undue reliance should not be placed on any forward-looking statement, contained herein. These statements reflect the Company's position as of the date of this release. The Company expressly disclaims any undertaking to release publicly any updates or revisions to any statements to reflect any change in the Company's expectations or any change of events, conditions, or circumstances on which any such statement is based.
Media Contact: LeaAnn McNabb of Trimble: 408-481-7808
Investor Relations Contact: Investor Relations of Trimble: (408) 481-6914