Iron Mountain Proposes Stock Offering
Iron Mountain (Boston) has proposed a stock offering of 3 million shares, in order to raise funds for a pending acquisition. The offering, made only by means of a prospectus, will be managed by Bear, Stearns & Company, William Blair & Company, and Prudential. In addition to gaining funding for the unnamed acquisition, Iron Mountain will use the net proceeds for general corporate purposes and to repay debt. Iron Mountain's stock currently trades at $33.50 per share.