Interpool to sell up to $27.4 million convertibles in rights issue

New York, July 11 - Interpool, Inc. said it is offering up to $27,361,250 of 9.25% convertible redeemable subordinated debentures in a rights issue.

Holders of the stock at the close of business on July 8 are able to participate in the offer, which runs through Aug. 8.

Interpool said it may also offer the convertibles to non-stockholders either during or after the rights offering period. In addition, the size of the offering may be increased to $31,465,425.

The Princeton, N.J. transportation equipment and services company will use proceeds for general corporate purposes.

Interpool said it has structured the rights offering to minimize the likelihood of short selling.

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