Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

General Dynamics Corporation Deal - Lehman Brothers Collection

General Dynamics Corporation

Company Dealsale of $40,000 3 1/2% convertible debentures due April 1, 1975
Transaction TypeConvertible Debentures
Deal DescriptionGeneral Dynamics Corporation added the net proceeds from this transaction to its working capital. The main purposes contemplated for such proceeds were the expansion and improvement of manufacturing facilities, the acquisition of other properties, and the further development and expansion of the activities of the corporation and its subsidiaries, with particular emphasis on the fields of electronics, nuclear energy, aircraft and guided missile production, and the manufacture of both conventional and atomic powered submarines. Pending the application of such proceeds to the said purposes, the proceeds were expected to be used to the extent necessary for the payment of outstanding bank loans, which were incurred for working capital purposes.
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