Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

The Parraffine Companies, Inc. Deal - Lehman Brothers Collection

The Parraffine Companies, Inc.

Company DealThe Paraffine Companies, Inc.: 4% cumulative convertible preferred stock
Transaction TypeCumulative Convertible Preferred Stock / Common Stock
Deal DescriptionThe Paraffine Companies, Inc., expected to use the net proceeds from this transaction to pay off outstanding bank loans. The proceeds were also used to make advances to Plant Rubber & Asbestos Works, a subsidiary, to enable it to pay off bank loans. The company also used the proceeds to purchase machinery and equipment for the manufacture of asphalt shingles and to complete the construction and installation of other miscellaneous additional warehouse facilities. Any balance was used for general corporate purposes.
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