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Henley International

This article was originally published in The Gray Sheet

Executive Summary

Firm, which will formally assume the name Maxxim Medical following shareholder approval at the company's March 4 meeting, is offering $50 mil. in convertible subordinated debentures due March 1, 2003. Estimated net proceeds of $47.9 mil. will be used "to finance potential future acquisitions and for general corporate purposes," Henley says in a Feb. 2 registration statement filed with the SEC. The firm notes that "no acquisitions or negotiations for any acquisitions are currently pending." Following the offering, which is being underwritten by Kemper Securities and Morgan Keegan & Company, Henley's long term debt will total $52.7 mil.

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