Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

Reserve Oil and Gas Company Deal - Lehman Brothers Collection

Reserve Oil and Gas Company

Company Deal$14,000,000 6 1/2% convertible subordinated debentures due December 15, 1992; 150,000 shares common stock
Transaction TypeConvertible Subordinated Debentures / Common Stock
Deal DescriptionReserve Oil and Gas Company used the net proceeds from the sale of the debentures to pay outstanding balances on bank loans. Such loans were incurred to finance construction of the company's anhydrous ammonia plant and to obtain additional working capital. All shares of common stock were sold by the selling stockholders; the company received no portion of the proceeds from that transaction.
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