Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

American Building Maintenance Industries Deal - Lehman Brothers Collection

American Building Maintenance Industries

Company Dealstock offering 249,000 shares of common stock
Transaction Typecommon stock
Deal DescriptionAmerican Building Maintenance Industries estimated that the net proceeds from the sale of common stock being sold by the company would be $960,400 after deducting underwriting commissions and other expenses in connection with the offering. A portion of the proceeds will be used to repay what were then bank borrowings incurred in connection with acquisitions, and the balance was to be added to the company's general funds. The general funds were to be used for the acquisition of businesses similar to those engaged in by the company. At the time of the deal, the company had no definitive agreements for such acquisitions. None of the proceeds from the sale of the 198,000 shares sold by the selling stockholders were to be received by the company.
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