Advanced Medical Optics to close dealings and strengthen financing:
This article was originally published in Clinica
Advanced Medical Optics (AMO) is expected to increase shareholder equity by $76m on closing a series of transactions. The company will exchange $83m of its outstanding notes for about 4.4 million common shares and $4.6m in cash. The move follows AMO's decision in April to acquire Pfizer's ophthalmic surgical business for a cash sum of $450m (see Clinica No 1105 ,p 19). A $76m non-cash charge will be recorded in the second quarter of 2004 on the note exchange. The Santa Ana, California-based company also added that its Japanese unit repaid a $22.4m term loan facility.