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Financings in Brief: Sabratek

This article was originally published in The Gray Sheet

Executive Summary

Sabratek: Infusion system manufacturer files with SEC for a secondary offering of 2.2 mil. shares, including 532,028 shares to be sold by selling shareholders and 1.7 mil. shares to be sold by the company. Niles, Illinois-based Sabratek, which raised $28.8 mil. in its 1996 initial public offering ("The Gray Sheet" July 15, 1996, p. 15), says net proceeds from the secondary offering will go towards "working capital and other general corporate purposes that may include expanding manufacturing capabilities, sales and marketing and product development efforts." Offering managers Bear, Stearns & Co., Salomon Brothers, Smith Barney and Jefferies & Company have an over-allotment option of 334,804 additional shares...
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