UNDERWRITERS EXERCISE OPTION FOR 285,000 ADDITIONAL SHARES; ORTHODONTIC CENTERS OF AMERICA, INC. RECEIVES ADDITIONAL NET PROCEEDS OF $2.9 MILLION.PONTE VEDRA BEACH, Fla.--(BUSINESS WIRE)--Jan. 25, 1995-- Orthodontic orthodontic (ôr´th  dän´tik),adj Centers of America, Inc. (Nasdaq/NM:OCAI) announced today that the underwriters have exercised their over-allotment option to purchase an additional 285,000 shares of Common Stock of Orthodontic Centers of America, Inc. at $11.00 per share, which option was granted in connection with the Company's initial public offering, which commenced on December 20, 1994. 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). to the Company from the exercise of the over-allotment option were approximately $2.9 million, increasing to $21.7 million the total net proceeds from Orthodontic Centers' initial public offering. The Company intends to use the additional net proceeds from the offering for acquisitions and developments of orthodontic centers and for working capital and other general purposes. Prudential Securities Incorporated and 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. served as managing underwriters for the offering. Orthodontic Centers of America, Inc. develops, consolidates and manages orthodontic practices in 13 states. Founded in 1989 by Dr. Gasper gasp·er n. Chiefly British Slang A cigarette. Lazzara, Jr. and Bartholomew F. Palmisano, Sr., the Company currently manages 75 orthodontic centers. The Company is headquartered in Ponte Vedra Beach, Florida
Ponte Vedra Beach is an unincorporated seaside community 18 miles (29 km) southeast of downtown Jacksonville, Florida, near St. Augustine, Florida in St. . CONTACT: Orthodontic Centers of America, Inc., Ponte Vedra Beach Bartholomew F. Palmisano, Sr., 504/834-4392 |
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