On September 22, Hanger Orthopedic Group Inc., Bethesda,
Maryland, announced that Ares Corporate Opportunities Fund LP., New
York, New York, will make a public offering of 2.5 million shares
of Hanger common stock. The shares are among those issued to Ares
in August 2008 during the conversion of Hanger’s Series A
Convertible Preferred Stock into common stock. According to
streetinsider.com, Hanger will not receive proceeds from the
transaction, and upon completion of Ares’ public offering, the
overall number of outstanding Hanger shares will remain
unchanged.
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