Silvercrest Industries Plans Public Offering

Silvercrest Industries Inc. of Santa Ana said it plans a public offering of $10 million worth of 20-year convertible subordinated debentures.

Gary King, senior vice president and chief financial officer, said $7 million of the proceeds will be used to repay existing debt and would virtually eliminate the company’s long-term debt.

The remaining $3 million, he said, will be added to the company’s coffers for general corporate use.

Silvercrest Industries Inc. manufactures and markets mobile homes and develops mobile home parks.