Orange County
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Archive Corp., a Costa Mesa computer equipment maker, announced receipt of an additional $5 million unsecured line of credit for operating cash. The credit line, carrying the prevailing prime loan rate, brings its borrowing power at Bank of the West to $10 million.
Comarco Inc., an Anaheim defense contractor, plans to offer $10 million in convertible subordinated debentures for additional operating cash and possible acquisitions. The notes, carrying a 9.75% interest rate, are due in 2000. The debentures are being underwritten by Seidler Amdec Securities Inc. in Los Angeles.
Comprehensive Care Corp., a Newport Beach operator of alcohol and drug treatment hospitals, has announced its intention to sell $30 million of convertible subordinated debentures due 2010.
Proceeds from the offering will be used primarily to expand the company’s operations.
The offering will be managed and underwritten by Morgan Stanley & Co. Inc. and Montgomery Securities.
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