NUTMEG STOCK OFFERING DECLARED EFFECTIVE
NUTMEG STOCK OFFERING DECLARED EFFECTIVE TAMPA, Fla., Nov. 13 /PRNewswire/ -- Nutmeg Industries, Inc.
(NYSE: NTM) said today that its registration statement relating to a public offering of 2,000,000 shares of its common stock has been made effective by the Securities and Exchange Commission.
The shares are being offered by The Robinson-Humphrey Company, Inc., of Atlanta and Montgomery Securities of San Francisco, co-managing underwriters, at $18.00 per share. All of the shares are being offered by the company. Richard E. Jacobson, Nutmeg chairman and chief executive officer, said the company has granted the underwriters an option to purchase up to 300,000 additional shares to cover over-allotments. The net proceeds to the company, which are estimated to be approximately $33.8 million (excluding the over-allotment), will be used to repay indebtedness; acquire capital equipment and expand facilities; increase working capital, and possibly acquire other businesses or assets including those that would help the company achieve greater vertical integration. Nutmeg designs, manufactures and markets high-quality sportswear under licenses granted by Major League Baseball, the National Basketball Association, the National Football League and the National Hockey League, most major colleges and universities, ABC Sports and other licensors to use team logos, names and other graphics on a wide variety of apparel. -0- 11/13/91 /CONTACT: George N. Derhofer, senior vice president and chief financial officer of Nutmeg Industries, Inc., 813-247-6044/ (NTM) CO: Nutmeg Industries, Inc. ST: Florida IN: TEX SU: OFR SS-XX -- FL001 -- 3767 11/13/91 08:59 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 13, 1991|
|Previous Article:||NIPPON LIFE TO START INSURANCE COMPANY IN THE U.S.|
|Next Article:||SYNTRO REPORTS FOURTH QUARTER PROFIT AND IMPROVED OPERATING RESULTS FOR FISCAL 1991|