ARM FINANCIAL CORP. COMPLETES ACQUISITIONS
ARM FINANCIAL CORP. COMPLETES ACQUISITIONS NEWPORT BEACH, Calif., Jan. 8 /PRNewswire/ -- ARM Financial Corp.
(ARM) (AMEX: RXM, temporary symbol RXM/I or RXMWI) confirmed today that it completed several transactions on or prior to Dec. 31, 1991, which it originally disclosed as probable acquisitions in an 8-K filing on Dec. 23, 1991 (as amended on Dec. 30, 1991), with the Securities and Exchange Commission. The acquisitions included six medical laboratory acquisitions in Arizona, California and Florida. In addition, ARM raised its investments in notes receivable secured by equipment leases from $65 million to $79 million, as well as added approximately $17 million of "mortgage wrap notes" to its real estate portfolio. ARM further noted that a 1 for 5 reduction of shares was effective at the close of business on Dec. 27, 1991.
ARM Financial Corp., with principal offices in Newport Beach and Clearwater, Fla., is an integrated holding company with primary emphasis in the laboratories and medical facilities sectors of the health care industry and additional operations in the real estate and leasing industries. ARM began trading on the American Stock Exchange on Dec. 31, under the symbol RXM (temporary symbol RXM/I or RXMWI), and previously traded on the NASDAQ OTC Bulletin Board. -0- 1/8/91 /CONTACT: Michael L. Goldberg of ARM Financial Corp., 714-474-3000/ (RXM RXM/I RXMWI) CO: ARM Financial Corp. ST: California IN: HEA SU: TNM
EH-KJ -- LA002 -- 7679 01/08/92 10:19 EST
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|Date:||Jan 8, 1992|
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