Continental Waste closes on $32.5 million offering.Industries 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 :CONT CONT Continue CONT Contain CONT Continue/Continued CONT Control CONT Contents CONT Controller CONT Contractor CONT Continuous CONT Contrast CONT Container CONT Continuation Cont Contamination CONT Continent CONT Contingency CONT Contactor ) announced that it has closed on its offering of 1,972,529 shares of common stock. The shares have been sold primarily to institutional investors at a price of $16.50 per share, resulting in gross proceeds of $32.5 million ($4.5 million to selling stockholders), and estimated 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). to the company of approximately $26.0 million. The company had initially planned to sell 1,500,000 shares of its common stock, but increased the offering by 200,000 shares in response to demand. Raymond James  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . & Associates Inc., First Analysis Securities Corp. and NatWest Securities Limited acted as placement agents for this transaction. The funds raised in this offering were initially used to paydown 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 then provide renewed borrowing capacity for future acquisitions, capital expenditures and general corporate purposes. Continental provides integrated solid waste management services to approximately 175,000 residential, commercial and industrial customers concentrated in the Midwestern and Mid-South regions of 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. . These services include non-hazardous landfil disposal, solid waste collection, transfer station operations and recycling programs. The company also provides solid waste management services in Costa Rica and Mexico. CONTACT: Continental Waste Industries Inc. Carlos E. Aguero or Michael J. Drury, 908/396-0018 |
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