Trimble Navigation Limited
935 Stewart Drive
Post Office Box 3642
Sunnyvale, CA 94085
Trimble to Raise Approximately $38.3 Million Through Sale of Common Stock
SUNNYVALE, Calif., April 9, 2003 -- Trimble (Nasdaq: TRMB) today announced that it has priced a registered direct offering for the sale of 2.1 million shares of its common stock at a price of $18.25 per share. Gerard Klauer Mattison & Co., Inc. served as placement agent for the transaction. The offering is expected to close on April 14, 2003.
The offered shares are registered pursuant to Trimble's $100 million shelf registration statement that was declared effective by the Securities and Exchange Commission on March 28, 2003.
A Prospectus and Prospectus Supplement may be obtained from Gerard Klauer Mattison & Co., Inc., at 360 Madison Avenue, New York, NY 10017, or directly from Trimble.
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 on April 14, 2003. Unforeseen market disruption or some of the other events discussed in greater deal in the Company's Form 10-K could cause actual results to materially differ from our expectations. 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