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Colfax plans paydown under credit facility via IPO proceeds
By Jennifer Chiou
New York, Jan. 4 - Colfax Corp. intends to repay a portion of its credit facility using some of the proceeds from a $300 million initial public offering of stock, according to an S-1 filing with the Securities and Exchange Commission.
Remaining proceeds will go toward paying dividends to preferred stockholders, paying special bonuses to executives and contributing to working capital.
Colfax is a Richmond, Va.-based industrial pump manufacturing company.
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