Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Greatamerica Corporation Deal - Lehman Brothers Collection

Greatamerica Corporation

Company Deal2,500,000 shares common stock ($3 par value)
Transaction TypeCommon Stock
Deal DescriptionGreatamerica Corporation used the net proceeds from the shares it sold in this transaction to discharge indebtedness of the company incurred in connection with the acquisition of 51,332 shares of common stock of Amicable Life Insurance Company in September 1962. The major part of the remainder was used to acquire a debt or additional equity interest in American Life Insurance Company or otherwise furnish American with funds sufficient to discharge its indebtedness incurred in connection with the acquisition of its Gulf Life Insurance Company stock in January 1962. The balance was primarily used to prepay a portion of the 5 1/2% secured notes due January 2, 1966, which the company issued in connection with the acquisition of First Western Bank and Trust Company stock in January 1963.
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