S3 filing.
Common stock offered by PolyMedica...... 2,250,000 shares
Common stock offered by selling
shareholders............................ 650,000 shares
Common stock to be outstanding after
this offering........................... 12,457,157 shares
The net proceeds from the sale of the 2,250,000 shares of common stock offered
by us will be approximately $54,782,500 at the assumed public offering price of
$26.00 per share, after deducting the underwriting discount and estimated
offering expenses payable by us. We will not receive any proceeds from the sale
of shares by the selling shareholders.
We intend to use $20.0 million of the net proceeds of this offering to retire
all of the Guaranteed Senior Secured Notes due January 31, 2003 held by John
Hancock Mutual Life Insurance Company and Barnett & Co. These notes bear
interest at the rate of 10.90% per annum. In addition, we will pay approximately
$1.6 million as an early payment premium. We will use the balance of the net
proceeds of this offering for working capital and general corporate purposes. We
have discussions on an ongoing basis regarding possible acquisitions or
investments in businesses or products that are complementary to our business.
Although we may use a portion of the net proceeds for these kinds of
investments, there are no current agreements or commitments in this regard. We
may, however, change the allocation of these proceeds in response to
developments or changes that affect our business or our industry. Pending use of
the net proceeds for the above purposes, we plan to invest such funds in
short-term, investment grade, interest-bearing securities.
Institutional Selling Stockholders
John Hancock Mutual Life Insurance Company
Barnett & Co.
Non-Institutional Selling Stockholders
Steven J. Lee
Arthur A. Siciliano
Eric G. Walters
Daniel F. Bernstein |
