| Deal Description | Bond Stores, Inc., used the net proceeds from this transaction to retire serial notes payable to the Equitable Life Assurance Society of the United States. The corporation intended to use the remainder of such proceeds for enlarging existing stores, building, altering and equipping stores, increasing factory capacity by adding to existing plants or by acquiring further facilities, carrying larger inventories and accounts receivable, and using any balance that may remain for working capital. At the time of the deal, the corporation had undertaken a program of enlarging existing stores where practical and of establishing a few additional stores. In furtherance of this program, several leases had been entered into and others were in negotiation. Until such proceeds were used or specifically allocated, they would be available as part of the cash balances of the corporation or invested in securities of the U.S. government. |
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