Surgidyne
This article was originally published in The Gray Sheet
Executive Summary
Medical suction equipment firm's debt holders convert all 10% and 12% debentures, which were due Dec. 1, 1993 and worth $400,000, into 1.6 mil. shares of unregistered preferred stock. The action "eliminates the major debt item on the company's balance sheet and provides it with a positive net worth," the Plymouth, Minnesota-based firm states