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GWC FILES REGISTRATION STATEMENT FOR PUBLIC OFFERING OF PREFERRED STOCK

GWC FILES REGISTRATION STATEMENT FOR PUBLIC OFFERING OF PREFERRED STOCK
 WILMINGTON, Del., Aug. 21 /PRNewswire/ -- GWC Corporation (NASDAQ-NMS: GWCC) reported today that it has filed a registration statement with the Securities and Exchange Commission for a public offering of 300,000 shares of non-voting, cumulative Series A Preferred Stock.
 The offering will be made only by means of a prospectus. The net proceeds to the company will be used to repay a portion of the company's existing short-term loans payable.
 The proposed terms of the Series A Preferred Stock include a five- year no call period and a mandatory sinking fund intended to retire all of the shares by Sept. 1, 2017.
 GWC Corporation, headquartered in Wilmington, is engaged through its subsidiaries in the water and wastewater utilities business and to a minor extent in certain non-regulated activities.
 /delval/
 -0- 8/21/92
 /CONTACT: Joseph V. Boyle, vp and treasurer of General Waterworks Management and Service Company, 215-278-2965/
 (GWCC) CO: GWC Corporation ST: Delaware IN: UTI SU: OFR


LJ-CC -- PH009 -- 2133 08/21/92 12:20 EDT
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Publication:PR Newswire
Date:Aug 21, 1992
Words:177
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