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North American Galvanizing plans $10 million placement of notes
By Devika Patel
Knoxville, Tenn., June 25 - North American Galvanizing & Coatings, Inc. said it intends to conduct a $10 million private placement of subordinated notes and warrants.
The notes will be offered to a group of investors who are current stockholders of record that hold at least 10,000 shares as of June 12. The notes will also be sold to a limited number of other accredited investors who have expressed interest in investing in the company.
The company must sell $5 million of notes in order to close the private placement and may sell an additional $1.5 million of notes if the private placement is oversubscribed.
The deal is expected to settle by Aug. 7.
Based in Tulsa, Okla., North American Galvanizing is a manufacturing services holding company conducting business in galvanizing and coatings.
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