Buckingham Corp.
| Company Deal | Buckingham Corporation: 500,000 shares of class A common stock |
|---|---|
| Transaction Type | Class A Common Stock |
| Deal Description | The Buckingham Corporation used a portion of the net proceeds from this transaction to repay the remaining balance of the company's outstanding indebtedness. A further portion of the proceeds was used to reimburse the company for funds already expended in 1962 for repayment of portions of the company's indebtedness. The foregoing indebtedness was incurred principally in connection with the company's purchases, for aging, of bulk whiskey located in Scotland and for additional working capital. An additional portion of the proceeds was used to create a stabilizing inventory of Cutty Sark Scotch Whisky warehoused in the United States for use during periods of unforeseen fluctuation in supply or demand. Any remaining proceeds were to be used for additional purchases of bulk whisky in Scotland and/or added to the company's general funds, to be available for various corporate purposes, including increased working capital. |