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SGR Acts as Counsel to Purchasers of Private Offering by Interface, Inc.
Smith, Gambrell & Russell, LLP acted as counsel to Salomon Smith Barney and Wachovia Securities as initial purchasers in connection with the private offering by Interface, Inc. of $175 million of its 10 3/8% Senior Notes. The Notes were offered and sold by Salomon Smith Barney and Wachovia Securities to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. Based in Atlanta, Georgia, Interface is a worldwide manufacturer and distributor of modular carpet and other floor covering product whose shares are traded on the Nasdaq National Market under the symbol “IFSIA.” The offering was completed in January 2002.
SGR represented Salomon Smith and Wachovia in connection with the preparation of the offering memorandum covering the sale of the Notes, advised them regarding the exemptions from registration of the securities under federal and state securities laws, and represented them in the negotiation and preparation of the purchase documents and indenture governing the terms of the Notes.
SGR regularly represents both issuers and investment banking firms in public and private securities offerings. The SGR team representing the initial purchasers in this transaction included Tim Elder.