Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

The Midland Company Deal - Lehman Brothers Collection

The Midland Company

Company Dealpublic offering of 300,000 shares of common stock
Transaction TypeCommon Stock
Deal DescriptionThe Midland Company applied the net proceeds from this transaction initially to reduce short-term indebtedness, the proceeds of which were used for acquisition of additional receivables. Eventually, the net proceeds were intended to have been used towards the construction of mobile homes manufacturing plants then being constructed, and the construction of a water terminal warehouse. The balance was added to the general working funds of the Company and was available for the purchase of additional water transportation equipment and for investment of capital funds in Midland-Guardian Co., the finance subsidiary of the Company, and other corporate purposes.
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