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Financings in Brief: Female Health Company

This article was originally published in The Gray Sheet

Executive Summary

Female Health Company: Raises approximately $3 mil. in secondary offering of about 700,000 shares at $4.40 each. The Chicago-based manufacturer of the Reality female condom says the financing allowed it to pay off a $484,000 note relating to the firm's February 1996 acquisition of Chartex International ("The Gray Sheet" Dec. 4, 1995, I&W-8). The proceeds also "will allow the company to enter into a sale/lease-back of its London manufacturing facility," FHC says, adding: "The funds raised, together with improved cash flow due to increasing revenue, especially from Korea, enable the company to continue its development of the only female condom available on a global basis"...

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