Cook Paint and Varnish Co.
| Company Deal | Cook Paint and Varnish Company: common stock and option |
|---|---|
| Transaction Type | Common Stock |
| Deal Description | Cook Paint and Varnish Company intended to apply the net proceeds from this transaction to the reduction of its indebtedness to banks. The majority of this indebtedness was incurred to provide additional working capital. This additional working capital was necessary to enable the company to increase its inventory of materials and supplies, and customers' accounts receivables resulting from increased volume of sales. To the extent that the proceeds were not applied for such a purpose, the company intended to add them to its general funds to be used as working capital to purchase materials and supplies and to pay for labor, taxes, and other general operating expenses. |