| Deal Description | The Geotechnical Corporation used the net proceeds from this transaction to increase its working capital and to retire the outstanding preferred stock of the company. The principal requirement for additional working capital arises from the increase in the volume of the company's gross business. Ten thousand shares in this transaction were being sold to the underwriters by the group of selling stockholders; the company did not receive any of the proceeds from this portion of the sale. The goup of selling stockholders consisted of William B. Heroy, Jack H. Hamilton, Frank H. Kennedy Jr., J. Lee Wood, B. R. Yeager, and all officers and directors as a group. |
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