LV company gains funding

Friday, March 2, 2001 | 11:20 a.m.

On Stage Entertainment Inc., a Las Vegas-based theater production company, said it signed a contract with equity investment firm McCown De Leeuw & Co. to invest up to $20 million in On Stage convertible preferred securities, which are debt instruments paying 12 percent that can be converted to stock.

MDC can stage its funding in four separate investments, ranging from $4 million to $6 million payments, On Stage said.

On Stage shares, which trade on the over-the-counter bulletin board, were at 84 cents in midday trading today. That is down from its 52-week high of $1.15 per share and up from the 52-week low of 19 cents.

On Stage operates shows around the country including the Legends in Concert show at the Imperial Palace hotel-casino on the Las Vegas Strip.

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