Financings in Brief: Wesley Jessen VisionCare
This article was originally published in The Gray Sheet
Executive Summary
Wesley Jessen VisionCare: Nets approximately $11.3 mil. from secondary offering of 4 mil. shares at $23.50 each, including 500,000 shares offered by the company and 3.5 mil. by selling shareholders, the firm states. The Des Plaines, Illinois-based specialty soft contact lens maker, which went public in February ("The Gray Sheet" March 3, p. 16), plans to use the proceeds to reduce indebtedness. Most of the shareholder stock sold in the offering was owned by Bain Capital; Bain continues to hold just over 50% of the company, down from 77.4% following the IPO, the firm states. Underwriters for the offering include Alex. Brown & Sons, Merrill Lynch, Bear Stearns, and Salomon Brothers...