MAI Basic Four Plans Stock Offering in June

MAI Basic Four Inc., a Tustin-based manufacturer of business computers and software, said last week it plans to make a public offering of its common stock in June. The company said it will use part of the proceeds from the stock sale to redeem debentures and preferred stock that were issued to finance the purchase of Basic Four last year by Bennett LeBow. LeBow acquired the company for $105 million from New York-based Management Assistance Inc. To finance the deal, LeBow established MAI Holding which, in turn, issued $60 million in subordinated debentures and $15 million in preferred stock and paid $30 million in cash to Management Assistance.