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Chattem Acquisition Fund Expected To Reach $40 Mil. With Offering

This article was originally published in The Rose Sheet

Executive Summary

Chattem is hoping to net approximately $60 mil. from a new share offering that will be used to retire bank debt and fund future acquisitions. Announced June 17, the offering of 1.8 mil. shares is expected to be complete in early July, Chattem said

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Chattem offering

Consumer products marketer is postponing public offering of 1.8 mil. shares due to unfavorable market conditions, Chattem says June 28. Chattem initially announced plans for the offering June 17 and had expected to complete it by early July. Offering was estimated to net $60 mil., which would be used to retire bank debt and fund future acquisitions (1"The Rose Sheet" June 24, 2002, p. 12)...

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