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CANTEL INDUSTRIES, INC. COMMENCES PRIVATE PLACEMENT OF PREFERRED STOCK

CANTEL INDUSTRIES, INC. COMMENCES PRIVATE PLACEMENT OF PREFERRED STOCK
 FAIRFIELD, N.J., Oct. 16 /PRNewswire/ -- Cantel Industries, Inc. announced today that it has commenced a private placement of a minimum of $3,500,000 and a maximum of $5 million of a new issue of Series C 8.75 percent cumulative convertible senior preferred stock. This preferred stock will be senior in rights of payments of dividends and liquidation to all other classes of common stock and preferred stock and will have a liquidation preference of $100 per share. Each share will be convertible into 25 shares of the company's common stock, subject to adjustment. The holders of the newly issued preferred stock will receive registration rights, subject and subordinate to the registration rights of the company's senior lenders. The placement agent for this offering is Vantage Securities, Inc., New York, N.Y.
 Cantel is engaged in the marketing and distribution of scientific products and consumer products in Canada and the assembly, marketing and distribution of office seating products in the United States and Canada. The company also provides servicing for the products it distributes.
 The scientific products distributed by the company consist of medical instruments, including flexible and rigid endoscopes, surgical equipment and related accessories, that are sold to hospitals; precision instruments, including microscopes and related accessories, that are sold to educational institutions, hospitals and government and industrial laboratories; and industrial technology equipment, including borescopes, fiberscopes and video image scopes, that are sold primarily to large industrial corporations.
 This communication shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these shares in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 10/16/92
 /CONTACT: James P. Reilly of Cantel Industries, Inc., 201-227-6500/ CO: Cantel Industries, Inc. ST: New Jersey IN: SU:


AH-OS -- NY033 -- 0931 10/16/92 12:01 EDT
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Publication:PR Newswire
Date:Oct 16, 1992
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