Career Horizons, Inc. announces senior convertible note financing.WOODBURY, N.Y.--(BUSINESS WIRE)--Oct. 4, 1995--Career Horizons, 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 :CARH CARH Council for Affordable and Rural Housing CARH Coalition for Affordable and Reliable Health Care CARH Community Assistance for the Retarded and Handicapped ), a leading provider of general and specialty supplemental staffing and health care personnel, today announced the commencement of a private placement offering under rule 144A Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. of up to $75 million in senior convertible notes due 2002 (plus up to an additional $11.25 million of notes to cover over-allotments). The notes, non-callable for three years, will be convertible into shares of Career Horizons' common stock. The transaction is expected to close in mid-October. The proceeds will be used for general corporate purposes, including repayment of borrowings under the Company's revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility, which will continue to be available to the Company, as well as for potential acquisitions. The notes have not been and will not be registered under the Securities Act of 1933 and may not be offered or sold within the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. absent registration or an available exemption from such registration requirements. This announcement does not constitute an offer to sell or the solicitation of offers to buy any security and shall not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful. CONTACT: Career Horizons, Inc. Michael T. Druckman, 516/496-2300 or Lundy Associates Inc. Michael A. Lundy, 201/660-1100 |
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