Pediatric Services plans to redeem 10% notes with stock sale proceeds

Pittsburgh, June 7 - Pediatric Services of America Inc. will use proceeds of the sale of 2.5 million shares of its common stock to call its remaining $20.4 million of 10% senior subordinated notes due 2008, according to a filing with the Securities and Exchange Commission.

The call premium is $700,000.

A total of 9.4 million shares of the company's stock will be outstanding after the sale.

The proceeds of the stock sale will also be used for general corporate purposes.

Pediatric Services is a Norcross, Ga. provider of home health care and related services for medically fragile and chronically ill infants and children.

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