Micropolis Prepares Bond Offering of $75 Million
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Micropolis said it filed a registration statement with the U.S. Securities and Exchange Commission to offer $75 million in bonds convertible into common stock to raise money for general corporate purposes and possible acquisitions.
The Chatsworth-based company makes disk drives used by computers to store data. Kidder, Peabody & Co. and Robertson, Colman & Stephens are managers of the underwriting.
In the year ended Dec. 26, Micropolis’ sales more than doubled to $218.1 million, and its profit quintupled to $18.3 million.
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