Printer Friendly

ADVANCED MEDICAL OFFERS $60 MILLION OF CONVERTIBLE SUBORDINATED DEBENTURES AND 500,000 SHARES OF COMMON STOCK

 ADVANCED MEDICAL OFFERS $60 MILLION OF CONVERTIBLE SUBORDINATED
 DEBENTURES AND 500,000 SHARES OF COMMON STOCK
 SAN FRANCISCO, Jan. 24 /PRNewswire/ -- Advanced Medical, Inc. (AMEX: AMA), announced today the concurrent offering by the company of $60 million of convertible subordinated debentures due 2002 and 500,000 shares of its common stock. Kidder, Peabody & Co. Incorporated is acting as underwriter for the offerings.
 The debentures were priced at par with a 7-1/4 percent coupon and are convertible into common stock of the company, at any time prior to maturity, at a conversion price of $18.14 per share. The debentures will be redeemable at the option of the company at any time beginning Jan. 15, 1993, at 106.525 percent of par, and thereafter at prices declining annually to par on Jan. 15, 2002. The debentures may not be redeemed during the 12-month periods commencing on Jan. 15, 1993, and Jan. 15, 1994, unless the last reported sale price of the common stock for a specified period is at least 170 percent and 160 percent, respectively, of the conversion price then in effect.
 Advanced Medical has granted to the underwriter options to purchase up to an additional $9,000,000 principal amount of debentures and up to an additional 75,000 shares of common stock solely to cover over- allotments, if any.
 Net proceeds to the company from the offerings will be used to repay and restructure the company's outstanding debt and for general working capital purposes.
 Advanced Medical, Inc., through its subsidiaries, is a leading developer and manufacturer of infusion systems and related technologies for the health care industry. The company's major operating subsidiary is IMED Corporation, one of the largest manufacturers of intravenous infusion pumps and disposable administration sets in the United States. The company owns approximately 79 percent of IMED's common stock (on a fully diluted basis).
 -0- 1/24/92
 /CONTACT: Stanley S. Anders, chief financial officer of Advanced Medical, 415-627-2876/
 (AMA) CO: Advanced Medical, Inc. ST: California IN: HEA SU: OFR


GK-OS -- NY031 -- 3211 01/24/92 10:53 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 24, 1992
Words:345
Previous Article:CANADIAN OCCIDENTAL PETROLEUM LTD. FILES FINAL PROSPECTUS FOR $115 MILLION OFFERING OF DEBENTURES
Next Article:ADAGE AND RELM COMMUNICATIONS COMPLETE MERGER; RELM POSTS PROFITS FOR SIX MONTHS ENDED DEC. 31, 1991
Topics:


Related Articles
KETEMA ANNOUNCES REPURCHASE OF COMMON STOCK AND CONVERTIBLE SUBORDINATED DEBENTURES
QUANEX SAYS CONVERSIONS OF 9-1/8 PERCENT CONVERTIBLE DEBENTURES INTO COMMON STOCK CONTINUE TO REDUCE DEBT
MEDIQ ANNOUNCES PLAN TO SPIN-OFF MENTAL HEALTH MANAGEMENT SUBSIDIARY
ALLIANCE IMAGING ANNOUNCES DEBT RESTRUCTURING AGREEMENT IN PRINCIPLE
PHP HEALTHCARE ANNOUNCES PROPOSED PRIVATE OFFERING OF CONVERTIBLE DEBT
ALZA Announces Special Distribution of Shares of Crescendo Pharmaceuticals Corporation
ALZA Distributes Shares of Crescendo Pharmaceuticals Corporation
Inco Enters Into Agreements to Sell Privately Two Issues of Convertible Debentures in Separate Concurrent Offerings.
Inco closes on private sales of two issues of convertible debentures.
Richardson Electronics, Ltd. Announces Issuance of 7 3/4% Convertible Senior Subordinated Notes due 2011 in Exchange for $22.2 Million of its 7 1/4%...

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters