Amadeusz Juskowiak

Rp scherer schc sets preferred stock offer

RP Scherer Inc said it registered with the Securities and Exchange Commission a proposed public offering of 12 mln shares of convertible exchangeable preferred stock at 25 dlrs a share

In addition the company said it is offering 200000 preferred shares to Richard Manoogian a Scherer director at 25 dlrs a share Manoogian said he will buy the 200000 shares

Proceeds from the offering will be used to repay debt and to fund research and development it said

Underwriters are led by Goldman Sachs and Co