Financings in Brief: ESC Medical Systems

Executive Summary

ESC Medical Systems: Firm completes a $115 mil. placement of 6% convertible subordinated notes due 2002. Proceeds from the offering -- which included exercise of a $15 mil. over-allotment option -- will be used for working capital and general corporate purposes, including possible acquisitions. The notes are convertible into the company's ordinary shares at a conversion price equal to $46.55 per share, the Yokneam, Israel-based dermatologic laser firm states ("The Gray Sheet" Sept. 15, p. 21)...