Aviation Distributors Inc. announces pricing of shares in proposed initial public offering.IRVINE, Calif.--(BUSINESS WIRE)--March 4, 1997--Aviation Distributors Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADIN Adin (ā`dĭn), in the Bible, family that returned from Exile. ) Tuesday announced that its proposed initial public offering of 1.2 million shares of its common stock was priced Monday at $5 per share, with all 1.2 million shares offered by the company. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the 1.2 million shares of common stock offered by the company, estimated to be $4.75 million, will be used to repay certain indebtedness, pay a portion of a legal settlement entered into by the company and provide additional working capital. The company has granted the underwriter an over-allotment option to purchase up to an additional 180,000 shares of common stock. Aviation Distributors is an aircraft part redistributor and inventory management service provider to major commercial airlines throughout the world, with headquarters in Irvine. Cruttenden Roth Inc. acted as the representative of the underwriters of the offering. A final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. may be obtained from Cruttenden Roth Inc., Attn: Syndicate Dept., 18301 Von Karman Ave., Suite 100, Irvine, Calif. 92715; 714/757-5700. CONTACT: Aviation Distributors Inc., Irvine Mark Ashton, 714/586-7558 or Coffin Communications Group, Sherman Oaks, Calif. Steven Johnson There are several well-known people called Steven Johnson.
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion