Polypore plans to buy back 10½% notes via IPO proceeds

By Jennifer Chiou

New York, March 14 - Polypore Inc. intends to purchase its 10½% senior discount notes due 2012 using proceeds from an initial public offering, according to an S-1 filed with the Securities and Exchange Commission.

The company plans to issue $362.25 million of stock.

Polypore is a Charlotte, N.C.-based developer, manufacturer and marketer of highly specialized polymer-based membranes used in separation and filtration processes.

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