Dayton Superior Announces an Offering of Convertible Trust Preferred Securities.DAYTON, Ohio--(BUSINESS WIRE)--Aug. 6, 1999-- Dayton Superior (NYSE NYSE See: New York Stock Exchange :DSD (Direct Stream Digital) See SACD. ) announced today that it filed a registration statement with the Securities and Exchange Commission for an underwritten public offering of convertible trust preferred securities. The offering will be underwritten by Robert W. Baird Robert Wilson Baird (born April 1, 1883) helped found the financial services firm that bears his name and led it for more than 40 years. Baird’s father was a professor of Greek literature at Northwestern University in Evanston, Illinois, where Baird grew up. & Co. Incorporated, Legg Mason Founded in 1899, Legg Mason, Inc. (NYSE: LM) is a leading Global Asset Management Firm that serves the institutional, mutual fund and wealth management markets. The firm is headquartered in Baltimore, Maryland, and is located on Lombard and Charles Streets in the Legg Mason Wood Walker Incorporated, and McDonald Investments Inc., with Baird as the lead manager. The securities would be issued by a limited purpose Delaware business trust which would use the proceeds of the offering to purchase from Dayton Superior the same principal amount of Dayton Superior's convertible junior subordinated debentures. Based on current market conditions, the company anticipates that the amount of the offering will be approximately $30-35 million. The company also anticipates that the trust preferred securities will be convertible into Dayton Superior Class A Common Shares at a rate which is anticipated to be approximately 35-40% above the market price of the shares at the time of the offering. 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 sale of the debentures to the trust would be used by the company to pay some or all of its borrowings under its 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 and for other general corporate purposes. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. A written prospectus meeting the requirements of Section 10 of the Securities Act may be obtained, when available, from the Company by contacting Alan F. McIlroy, Dayton Superior Corporation, 7777 Washington Village Washington Village could refer to:
Dayton Superior Corporation is a manufacturer and distributor of metal accessories and forms used in concrete construction and metal accessories used in masonry construction and has an expanding construction chemicals business. The Company's products, which are marketed under the Dayton/Richmond(R), Symons(R), American Highway Technology(R) and Dur-O-Wal(R) names, among others, are used primarily in two segments of the construction industry: non-residential buildings and infrastructure construction projects. |
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