| Deal Description | Digital Equipment Corporation used its portion of the net proceeds from this transaction to repay its outstanding notes payable to banks. The balance was added to working capital and was used to finance receivables and inventories, to purchase plant equipment, and for other corporate purposes. The proceeds of the notes payable to banks were used for additional working capital to finance the company's increased volume of business. Of the shares offered in this transaction, 215,000 shares were sold by the selling stockholder, American Research and Development Corporation. The company received no portion of the proceeds from the sale of such shares. |
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