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Article: Blue Rhino Raises $14 Million Through Equity, Convertible Debt; Acquires Assets of Bison Valve.
- Article from:
- PR Newswire
- Article date:
- September 23, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WINSTON-SALEM, N.C., Sept. 23 /PRNewswire/ -- Blue Rhino Corporation (Nasdaq: RINO), the leading nationwide provider of gas grill cylinder exchange, announced that it raised approximately $14.2 million in capital through two transactions. With the assistance of J.C. Bradford & Co., Blue Rhino raised $7.0 million in convertible notes and completed a private placement of approximately $7.2 million in common stock to company insiders and others. Additionally, the company announced it acquired the overfill prevention device (OPD) assets from Bison Valve L.L.C. Blue Rhino believes these transactions will be accretive to fiscal 2000 earnings.
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Article: Blue Rhino Acquires Ten Distributors.
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...Blue Rhino Corporation , a leading national provider ... represent approximately 45 percent of Blue Rhino's cylinder exchange revenues. "The ... rapid growth," said Billy D. Prim, Blue Rhino's chairman and chief executive officer ...
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