Interstate Department Stores, Inc. Deal - Lehman Brothers Collection
Interstate Department Stores, Inc.
|Company Deal||offering of 500,000 shares of common stock|
|Transaction Type||Common Stock|
|Deal Description||Interstate Department Stores, Inc., used the net proceeds from this transaction in connection with its expansion program. A portion of the proceeds was used to repay bank borrowings, which were incurred in March 1969 to provide funds for the acquisition of the stock of Steel City Department Stores, Inc., and affiliated corporations. These companies operated eight Children's Bargaintown, U.S.A. toy supermarts. The balance of the proceeds was added to the company's general funds and was made available for the purchase of inventories and fixtures for the company's proposed new stores.|
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