Silvercrest Industries Plans Public Offering
Silvercrest Industries Inc. of Santa Ana said it plans a public offering of $10 million worth of 20-year convertible subordinated debentures.
Gary King, senior vice president and chief financial officer, said $7 million of the proceeds will be used to repay existing debt and would virtually eliminate the company’s long-term debt.
The remaining $3 million, he said, will be added to the company’s coffers for general corporate use.
Silvercrest Industries Inc. manufactures and markets mobile homes and develops mobile home parks.
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