Business Services Industry
No holiday rest for IPOs: Captec goes public, Rockwell Medical gets ready. (initial public offerings) (includes related stock market statistics)
Crain's Detroit Business, December, 1997 by Gargaro, Paul
Two metro Detroit companies are participating in the busy market for initial public offerings. Ann Arbor's Captec Net Lease Realty Inc. (Nasdaq: CRRR) went public Nov. 14 at $18 a share. The real estate investment trust sold 8 million shares that day - or about 85 percent of the company - and raised about $134 million after fees, Bloomberg News reported.
Wixom-based Rockwell Medical Technologies Inc. is preparing to go public in January by offering 1.8 million common shares for $4 a share, along with 2.7 million common share purchase warrants for 10 cents a warrant. Rockwell Medical and its predecessor company make and distribute material and equipment used by kidney-dialysis care providers. Together they have chalked up net losses of about $1.5 million, or 53...
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