Financings in Brief: Trex Medical
This article was originally published in The Gray Sheet
Executive Summary
Trex Medical: Registration statement filed with the SEC covers a secondary offering of 4.5 mil. shares of common stock. Proceeds will be used to finance the mammography and general-purpose x-ray system manufacturer's entrance into the dental x-ray market through the acquisition of Paris-based Trophy Radiologie, for which a letter of intent was announced Jan. 6 ("The Gray Sheet" Jan. 12, In Brief). Trophy, which generated $70 mil. in sales for fiscal year 1997 (ended Aug. 31), markets the RVG series of digital x-ray systems to dentists, orthodontists and periodontists. Specific terms of the deal were not disclosed. Offering underwriters Salomon Smith Barney and Lehman Brothers "are expected to be granted a 30-day overallotment option to purchase an additional 675,000 shares," Trex states...