Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Beckman Instruments, Inc. Deal - Lehman Brothers Collection

Beckman Instruments, Inc.

Company Dealsale by company of 75,000 shares and by stockholders of 296,553 shares
Transaction TypeCommon Stock
Deal DescriptionOf the shares offered in this deal, 296,553 shares were sold to the underwriters by the selling stockholders. The group of selling stockholders consisted of Monterey Oil Company, Wilmington Associates, Inc., A. O. Beckman, and T. F. Herring. The remaining 75,000 shares were sold by the Beckman Instruments, Inc. The company expected to add the net proceeds, estimated at $20,946, to its general funds, to be available for general corporate purposes. No allocation of such proceeds had been made at the time of the offering, but the company expected to use such funds, among other things, to meet its increased cash requirements resulting from increased volume of business, and for capital additions to its properties and facilities, including the construction of its new plant. In 1952, the company acquired 38 acres of land for a new plant site onto which the company expected to move substantially all of its operations and the operation of Helipot Corporation. A part of the proceeds may have been used to acquire the stock of Berkeley Scientific Corporation if the option to acquire such stock was to be exercised.
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