Settling debts. (Wall Street West).VCA VCA Voltage Controlled Amplifier VCA Victorian College of the Arts (Australia) VCA Vehicle Certification Agency (UK) VCA Veiligheids Checklist Aannemers Antech Inc. has filed to sell 9 million shares of common stock in a secondary offering. Los Angeles-based VCA, which operates a nationwide network of animal laboratories and veterinary hospitals, plans to sell 3.3 million shares in the deal to pay off debt, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a Securities and Exchange Commission filing. Existing shareholders, including Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. private equity firm Leonard Green & Partners LP, will sell the remaining 5.7 million shares. Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. & Co. and Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. are underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. the deal. "We hope to close the deal by the end of the month if all goes well," said Tom Fuller, VCA's chief financial officer. In a secondary offering, shares are typically priced near the closing price the evening before the offer. VCA's stock was trading in the $15 range last week, thus the offering should net the company about $50 million. VCA said it plans to use the proceeds to retire $36.7 million in debt, which carries a 15.5 percent interest rate, and for general corporate purposes. VCA Antech, formerly Veterinary Centers of America, had been public for nine years before being taken private by Leonard Green in 2000. The company raised $176 million when it went public for a second time in November 2001. That offering was priced at $10 a share. VCA Antech reported net income of $7 million for the third quarter ended Sept. 30, up from a loss of $3.3 million in the like-year earlier quarter. Third-quarter revenues were $115 million, vs. $102.6 million in the third quarter of 2001. |
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