North American Biologicals Inc. completed its first public offeringsince it went public in 1969, selling 2.7 million shares at $6.50 pershare, the Miami company said Thursday.The public offering of 4.2 million shares included 1.5 million thatwere held by two shareholders. North American Biologicals(NASDAQ:NBIO), the largest independent provider of humanblood plasma elements, got $17.55 million from the offering (less a6.5 percent commission). Raymond James & Associates Inc., of St.Petersburg, Fla., and NatWest Securities Ltd., of New York,managed the offering. They have an option to purchase 630,000shares to cover overallotments.David Gury, the company's chairman, president and CEO, toldBioWorld the offering accomplished three objectives: it allowed forthe retirement of high-cost debt, took away overhang of shares, andgave the company exposure to institutional investors. _ Jim Shrine
(c) 1997 American Health Consultants. All rights reserved.