Scan-Tron Seeks Approval for $10-Million Debt Offer

Scan--Tron Corp. said it has filed a registration statement with the Securities and Exchange Commission for a $10-million offering of convertible subordinated debentures, due 2011. The debentures will be convertible into the company’s common stock, of which about 3.4 million shares are currently outstanding. John T. Saunders, president and chief executive officer of the Tustin-based maker of specialized testing forms and test scoring equipment, said proceeds from the offering will be used for general purposes, repayment of debt and to increase working capital.