U.S. Bioscience
Executive Summary
Files prospectus for 2 mil. share public offering March 25. At an estimated price of 34-1/8, the offering could gross nearly $ 70 mil. The company intends to use $ 1.8 mil. to pay off the remainder of its debt to U.S. Healthcare, its parent company, and the rest will go "to expand its European operations," to "acquire pre-clinical testing and manufacturing-related capabilities," to "expand clinical trials" for its products, and "to acquire new drugs for development and marketing." U.S. Bioscience's last offering was completed in February of 1990, when 4 mil. shares were sold at $ 9.
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