DRA has apparently decided it too needs access to more capital in order to grow. Unlike Dynix, which sold itself to a larger company, DRA has decided to go public. On April 28, 1992, it filed a registration statement with the Securities and Exchange Commission regarding the proposed sale of 1.5 million shares of common stock, including 600,000 shares currently held by shareholders. The offering price is expected to be at $9.00 to $11.00 per share. The underwriting group, which will be headed by A. C. Edwards & Sons, Inc., and Piper Jaffray, Inc., will send out a prospectus in late Spring, 1992.
[Contact: A. C. Edwards & Sons, Inc., One North Jefferson Avenue, St. Louis, MO 63103; Piper Jaffray, Inc., 222 South 9th Street, Minneapolis, MN 55402.]