Arch Communications Inc raised about $160m with with an issue of $275m of senior discount notes due March 15 2008 and zero coupon for five years, sold at $58.839%, for a yield to redemption of 10.875%. Prudential Securities Inc was the lead manager.
Meridian Data Inc, the Scotts Valley, California company that combines the cash and share quote of Parallan Computers Inc with the networked CD-ROM drive business of the original Meridian Datam has filed with the US Securities & Exchange Commission to offer 2m, all new, although it will have to use a substantial part of the proceeds to buy for cancellation 1.23m of its shares from existing holders. It will thus gain the proceeds for itself of a net 770,068 new shares, raising some $9m before expenses for working capital. The company did not identify the underwriters in the announcement.
