New ICN Company Plans Sale of Shares
COSTA MESA —
ICN Merger Corp., the company that is emerging from the consolidation of ICN Pharmaceuticals and its three affiliates, has filed with the Securities and Exchange Commission to sell $150 million worth of convertible subordinated debentures, due in 2004.
The shares would be convertible into ICN Merger shares under the plan unveiled this month to consolidate all four companies into a new entity also to be called ICN Pharmaceuticals, ICN spokesman David Calef said Monday at the company headquarters in Costa Mesa.
The underwriters are Wertheim Schroder & Co. Inc., Jefferies & Co. Inc. and Kemper Securities Inc.
