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Cohesant Technologies Inc. announces earnings and additional sale of shares and warrants.

CLEVELAND--(BUSINESS WIRE)--Feb. 9, 1995--Morton A. Cohen, chairman of Cohesant Technologies Inc., announced that New York underwriter Gaines Berland Inc. has purchased 150,000 additional units of Cohesant Technologies Inc. to cover over-allotments in connection with Cohesant's initial public offering completed on Dec. 7, 1994.

The exercise of the underwriter's over-allotment option increases the amount of capital raised in the public offering to $6.25 million.

Cohen also noted that the combined proforma results of operations of the company's recently acquired American Chemical and Glas-Craft business units for the 12 months ended Nov. 30, 1994 was $429,000, which was in line with expectations, and up 52 percent from the combined proforma net income for the 12 months ended Nov. 30, 1993 of $283,000. Cohen said that the upward earnings trend should continue based upon recent business activities at each of the company's units. As a result of the recent sale of units, the company has 2,635,536 shares of stock outstanding compared to 1,500,000 shares outstanding at Nov. 30, 1994.

CONTACT: Cohesant Technologies Inc., Cleveland

Michael Boeckman, 216/861-6266
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Publication:Business Wire
Date:Feb 9, 1995
Words:185
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