CNS <CNXS.O> COMPLETES INITIAL PUBLIC OFFERING
CNS Inc said it completed its
initial public offering of 1,035,000 shares of common stock at
3.75 dlrs a share through an underwriting group headed by
Engler-Budd and Co Inc.
    Concurrent with the offering, the company made an exchange
offer in which it issued 277,127 common shares in exchange for
935,333 dlrs of outstanding promissory notes at the rate of
3.375 dlrs a share. This represented over a 93 pct acceptance
of the exchange offer, the company said.
 Reuter
