Levin-Townsend Computer Corporation
| Company Deal | public offering of $20,000,000 of 7 1/2% sinking fund debentures with warrants attached due January 15, 1979 |
|---|---|
| Transaction Type | Sinking Fund Debentures / Warrants |
| Deal Description | Levin-Townsend Computer Corporation used a portion of the net proceeds from this transaction for the acquisition of IBM System/360 computer systems and other equipment for lease to others. Another portion of the proceeds was used to finance the construction and leasing of a pipeline and related facilities. An additional portion of the proceeds was used to repay a loan from First National City Bank, which was incurred primarily for the acquisition of IBM System/360 computer systems. The company may have used any remaining proceeds for working capital and for investment in other business opportunities. |