Published on 6/27/2005 in the Prospect News PIPE Daily.
New Issue: Kuhlman raises $2.1 million in private placement of preferreds
By Sheri Kasprzak
Atlanta, June 27 - Kuhlman Co., Inc. said it has completed a private placement for $2,092,202.
The company sold 1,085,956 shares of series A convertible preferred stock at $1.9266 per share.
The preferreds do not pay dividends and are convertible into common shares on a one-for-one basis. The preferreds will automatically convert into common shares once a registration statement is declared effective or upon the one-year anniversary - June 10, 2006 - of Kuhlman's merger with SKČ.
Based in Minneapolis, Kuhlman is an apparel manufacturing company.
| Issuer: | Kuhlman Co., Inc.
|
| Issue: | Series A convertible preferred stock
|
| Amount: | $2,092,202
|
| Shares: | 1,085,956
|
| Price: | $1.9266
|
| Conversion ratio: | One common share for each preferred
|
| Maturity: | Automatically converts into common shares on June 10, 2006
|
| Warrants: | No
|
| Settlement date: | June 23
|
| Stock price: | $4.75 at close June 23
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
