BUS 1301 Gazette - Practice Round 4

BUS 1301 Gazette - Practice Round 4 - Sherlock Sensors...

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Unformatted text preview: Sherlock Sensors Sells $10 Million of Debt By Blaine McCormick (reporting on industry F34635 for Practice Round 4) Sherlock Sensors recently sold $10 million worth of bonds to help finance their current expansion efforts. Its the first bond issue for the company since beginning operations three years ago. Sherlock Sensors has enjoyed modest success in the electronic sensor industry posting solid profits for the past two years and doubling their stock price. Thus far, theyve financed their growth through cash, a modest early stock offering, and the occasional use of current debt. In contrast, competitors like Censored, have grown faster than Sherlock Sensors through earlier bond issues and wise stewardship of the capital gained from those bond issues. Its good to see that Sherlock Sensors used these funds to make important capital investments like capacity and automation, said sensor analyst Blaine McCormick. You wouldnt believe the number of teams that sell bonds to raise cash and then use that cash to retire existing bonds...
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This note was uploaded on 03/29/2010 for the course BUS 1301 taught by Professor Mccormick during the Spring '08 term at Baylor.

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