Owens & Minor
This article was originally published in The Gray Sheet
Private placement of convertible Series A bonds from J.P. Morgan Securities Inc., Donaldson, Luftkin & Jenrette Securities and Merrill Lynch, Pierce, Fenner & Smith Inc., raises $120 mil. Net proceeds will be used primarily to repurchase close to 1.2 mil. shares of company Series B preferred stock. Remaining funds will go toward working capital requirements. The securities are convertible into common shares of the med/surg distributor at a rate of roughly 2.42 common shares for each security at a conversion price of $20.63 per share
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