Advanced Medical Inc. announces exchange of approximately 47% of its Convertible Subordinated Debentures.SAN DIEGO--(BUSINESS WIRE)--April 3, 1995--Advanced Medical Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :AMA (Automatic Message Accounting) The recording and reporting of telephone calls within a telephone system. It includes the calling and called parties and start and stop times of the call. ) Monday announced that it has completed a previously announced exchange transaction with various funds managed by Fidelity Management & Research Co. (the "Fidelity Funds"), which held a total of $28,245,000, or approximately 47%, in principal amount of Advanced Medical's 7 1/4% Convertible Subordinated Debentures subordinated debenture An unsecured bond with a claim to assets that is subordinate to all existing and future debt. Thus, in the event that the issuer encounters financial difficulties and must be liquidated, all other claims must be satisfied before due 2002. The Fidelity Funds surrendered their 7 1/4% Debentures in exchange for an aggregate of 1,340,441 shares of AMA's common stock and $14,122,500 in principal amount of AMA's newly-created 15% Subordinated Debentures. The 15% Debentures, which become due in 1999, otherwise will rank equally with Advanced Medical's outstanding 7 1/4% Debentures. Advanced Medical, through its IMED IMED International Medical Education Directory Corp. subsidiary, is one of the country's largest manufacturers of intravenous infusion pumps and disposable administration sets. CONTACT: Advanced Medical Inc., San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. Joseph W. Kuhn, 619/566-0246 |
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