Data General Corp says it will privately issue $185m worth of 6% Convertible Subordinated Notes due 2004. The notes will be convertible to Data General common stock at a conversion price of $26.194, a 27% premium over Thursday’s closing price. Approximately $23m of the net proceeds will be used to retire the company’s 8.375% sinking […]
Data General Corp says it will privately issue $185m worth of 6% Convertible Subordinated Notes due 2004. The notes will be convertible to Data General common stock at a conversion price of $26.194, a 27% premium over Thursday’s closing price. Approximately $23m of the net proceeds will be used to retire the company’s 8.375% sinking fund debentures due 2002. The rest of the cash is intended to fund the expansion of the company’s AViiON and CLARiiON businesses, to fund new product development and expand distribution channels.
