Financings in Brief: Young Innovations, Inc.
This article was originally published in The Gray Sheet
Executive Summary
Young Innovations, Inc.: Files with SEC for an initial public offering of 2 mil. shares at $10-12 each. The Earth City, Missouri maker of single use supplies, autoclavable instruments and other products used for dental applications plans to use anticipated proceeds of $20 mil. (assuming an IPO price of $11 per share) for debt repayment, "working capital and general corporate purposes, including making strategic acquisitions," the firm states. Young Innovations had sales of $12.1 mil. for the six months ended June 30 (up 34.2%), and net income of $1.8 mil. (up 22.6%) for the period. Underwriters Robert W. Baird & Co. and Cleary Gull Reiland & McDevitt hold an overallotment option for 300,000 additional shares...