By Sheri Kasprzak
New York, March 8 - Kuhlman Co., Inc. wrapped up a $2,531,250 stock offering with a group of institutional investors led by Bear Stearns Asset Management.
Bear Stearns and Durban Capital, LP bought 1,125,000 shares at $2.25 each.
The investors also received warrants for 225,000 shares, exercisable at $2.75 each.
Following the offering, Kuhlman has 23.4 million outstanding shares.
Proceeds will be used for the company's new store rollout plan.
Based in Minneapolis, Kuhlman operates retail clothing outlets.
| Issuer: | Kuhlman Co., Inc.
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| Issue: | Stock
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| Amount: | $2,531,250
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| Shares: | 1,125,000
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| Price: | $2.25
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| Warrants: | For 225,000 shares
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| Warrant strike price: | $2.75
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| Investors: | Bear Stearns Asset Management (lead), Durban Capital, LP
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| Settlement date: | March 8
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| Stock symbol: | OTCBB: KHLM
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| Stock price: | $2.35 at close March 7
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