In Brief: NABI
Executive Summary
NABI: Company formerly known as North American Biologicals privately places $70 mil. principal amount of 6-1/2% convertible subordinated notes due 2003, Boca Raton, Fla.-based NABI announces Feb. 7. Robertson, Stephens and Raymond James, the notes' initial purchasers, have an option for 30 days to buy up to an additional $10.5 mil. principal amount of notes solely to cover over-allotments, if there are any, NABI notes. The notes are convertible to common stock at $14 per share any time after April 8. NABI says it will use the notes to repay high interest bank indebtedness and for general corporate purposes; there will be a first quarter charge to earnings of $1 mil. related to the early extinguishment of this indebtedness, the company adds...