Rotech Seeks Lien Notes Exchange

ORLANDO, Fla. — After raising $6.5 million in an offering earlier this year and another $290 million in a private offering, Rotech Healthcare has begun an exchange offer for up to $283.5 million aggregate principal of its senior second lien notes for an equal amount of privately held notes. The offer closes July 12 unless it is extended, according to a press release.

In other company news, Wynnefield Capital Management reported in a June 9 SEC filing that it has acquired nearly 1.7 million shares, or 6.6 percent, of Rotech's common stock. New York-based Wynnefield describes itself as "a value investor, specializing in U.S. small cap situations that have a company or industry specific catalyst(s)."