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AMERICAN PACIFIC OFFERS 1,750,000 SHARES OF COMMON STOCK AT $30.50 PER SHARE

 AMERICAN PACIFIC OFFERS 1,750,000 SHARES
 OF COMMON STOCK AT $30.50 PER SHARE
 LAS VEGAS, April 15 /PRNewswire/ -- American Pacific Corp. (NASDAQ: APFC) (the company) today announced the offering of 1,550,000 common shares by the company and 200,000 common shares by certain shareholders at a price to the public of $30.50 per share. The number of shares offered by the company was increased 200,000 from the originally anticipated 1,350,000 common shares. The offering is being made by a syndicate of underwriters led by Dean Witter Reynolds Inc. Dean Witter also holds an option to acquire 262,500 shares from the company to cover over-allotments.
 It is estimated that net proceeds to the company from the sale of the 1,550,000 shares will be approximately $44.5 million. Approximately $26 million of the net proceeds will be used to fund the construction of a facility to manufacture Halotron and to provide working capital for the startup of Halotron operations and approximately $4.5 million will be used to construct, equip, staff and start a new research and development facility. Remaining net proceeds will be used for working capital and general corporate purposes.
 The company is principally engaged in the production of a specialty chemical, ammounium perchlorate, for the aerospace and national defense industries. The company also has received a license and has commenced construction of a facility to produce sodium azide, the principal component of the gas generant used in automotive airbag systems. Recently the company acquired the worldwide rights to Halotron, a fire suppression system intended to replace halons, which are ozone layer- depleting chemicals presently used in fire fighting and fire safety. The company is also engaged in the development of commercial and industrial real estate and in the production of pollution abatement and waste water treatment equipment.
 Copies of the written prospectus can be obtained from Dean Witter Reynolds Inc.
 -0- 4/15/92
 /CONTACT: C. Keith Rooker, executive VP of American Pacific, 702-735-2200/
 (APFC) CO: American Pacific Corp. ST: Nevada IN: CHM SU: OFR


KJ-EH -- LA039 -- 9012 04/15/92 19:03 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
Words:356
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