Handy Dan Home Improvement Centers, Inc.
| Company Deal | 400,000 shares common stock ($1.00 par value per share) |
|---|---|
| Transaction Type | Common Stock |
| Deal Description | Handy Dan Home Improvement Centers, Inc., used a portion of the net proceeds from this transaction to repay its outstanding indebtedness to Daylin, Inc. The balance of such indebtedness was payable two years after the closing of this deal and did not bear interest. The indebtedness arose principally from corporate administrative and financial charges incurred by Daylin and allocated to Handy Dan as one of Daylin's operating groups of subsidiaries. The balance of the proceeds was added to the general funds of the company. |