Gradco Systems Inc., the Santa Ana maker...
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Gradco Systems Inc., the Santa Ana maker of paper-handling equipment for printing and copying machines, said Thursday that it has issued $15 million of convertible notes to two institutions in a private transaction. The notes mature in 2001 and are convertible into about 1 million shares of common stock. Proceeds will be used for general corporate purposes, including the reduction of short-term borrowings.
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