| Deal Description | GenRad, Inc. added its portion of the proceeds from this transaction to its general funds. A portion of such funds was used to retire short-term bank indebtedness incurred to provide working capital. The balance of such funds was to be used for working capital, of which a portion was expected to be used for manufacturing and office facilities. The offering was to provide the company with additional permanent equity capital, which was required to support its increased volume of business. Of the shares being offered in this transaction, a portion were sold by the selling stockholder, GenRad Profit Sharing Trust. The company received no portion of the proceeds from those shares. |
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