(LATIMES) — Fender Musical Instruments Corp., the iconic company that has been making guitars in California since its inception in 1946, is seeking to raise $200 million in an initial public stock offering.
In a filing with the Securities and Exchange Commission on Thursday, Fender said it intends to use the money to help pay down $246.2 million in debt and to acquire other businesses.
Although its corporate headquarters are now in Scottsdale, Ariz., the company was founded in Fullerton and makes its American Standard Stratocaster and Telecaster guitars at a 3-acre manufacturing plant in Corona. The last step in Fender's quality-control process involves an experienced musician playing every note on a finished guitar before the instrument is sent to a dealer.
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