McGaw
This article was originally published in The Gray Sheet
Executive Summary
Reduces outstanding indebtedness using $43 mil. in net proceeds from its initial public offering of 6 mil. shares of common stock at $8 per share. The firm issued 5.75 mil. shares; stockholders issued the remaining 250,000. Alex. Brown & Sons; Donaldson, Lufkin and Jenrette; and Robertson, Stephens managed the underwriting of the offering. The firm initially offered 10 mil. shares for sales at a price of $12.50 per share ("The Gray Sheet" Feb. 15, p. 12); shareholders were offering 1.2 mil. shares.