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Financings in Brief: Safeskin

This article was originally published in The Gray Sheet

Executive Summary

Safeskin: Files registration statement with SEC for a secondary offering of 3.2 mil. shares by insider shareholders. Neil Braverman, Safeskin's co-chairman and director, will sell 2 mil. shares; 1 mil. shares are slated to be sold by chairman emeritus Irving Jaffe; and 200,000 shares are offered by Chairman, President and CEO Richard Jaffe. Following the offering, Braverman, Jaffe and Jaffe will continue to own approximately 19.4% of Safeskin's voting stock, the company says. Smith Barney and Merrill Lynch are underwriters. Separately, Safeskin adopts a shareholder rights plan that would go into effect if a person or group acquired beneficial ownership of 15% of Safeskin outstanding stock...

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