New Issue: Stanadyne negotiates $6 million private placement of 12% convertibles

By Devika Patel

Knoxville, Tenn., Feb. 20 - Stanadyne Holdings, Inc. arranged a $6 million private placement of convertible subordinated notes with funds managed by Kohlberg Management IV, LLC on Feb. 14, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The 12% notes are due in five years and will convert to common shares at fair market value.

The Windsor, Conn., private company designs, manufactures and sells precision manufactured engine components.

Issuer:	Stanadyne Holdings, Inc.
Issue:	Convertible subordinated note
Amount:	$6 million
Maturity:	Five years
Coupon:	12%
Warrants:	No
Investor:	Kohlberg Management IV, LLC
Pricing date:	Feb. 14

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