Ok, I see it now...found it on FreeEdgar.
An S-3 registering details below:
Common Stock Offered by the Company.............. 1,307,653 shares
Common Stock Offered by the Selling
Stockholder.................................... 1,392,347 shares
Common Stock Outstanding after the Offering...... 10,073,182 shares(1)
Use of Proceeds.................................. Repay certain indebtedness and for general
corporate purposes, including expanding
the Company's manufacturing operations in
Thailand, other capital expenditures and
working capital.
Doesn't look terribly dilutive but I need to crunch some numbers...the stock offered by the selling shareholder DOES NOT dilute the earnings.
OK...done...the new amount of shares outstanding would have given us .26 instead of .29 last quarter. Maybe estimates for 1997 will be revised to .86 instead of .92. Gives us a PE of 30 rather than 28 on 1997 estimate. This is all back of the envelope figuring here, so take it with a grain of salt. The bottom line is we'll have to see how the market takes to the filing. Like I say, I don't think it's a big deal and it raises 70 mil for the company, maybe pay off all the long-term debt (25 mil)..etc...
BTW, the 10Q was filed, too.
Talk to you all tomorrow,
Paul |
