800-JR-CIGAR announces initial public offering.WHIPPANY, N.J.--(BUSINESS WIRE)--June 25, 1997--800-JR-CIGAR Inc.'s initial public offering of 3,000,000 shares of common stock was priced today at $17.00 per share for sale by an underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. group led by Wheat First Butcher “The Butcher” redirects here. For the 1970 film, see The Butcher (film). “The Butchers” redirects here. For the band, see The Butchers (band). A butcher is someone who prepares various meats and other related goods for sale. Singer and J.C. Bradford & Co. The Whippany, New Jersey-based company had expected to sell the shares at $14.00 to $16.00, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. its registration statement filed with the Securities and Exchange Commission. The company has granted the underwriters an option to purchase up to 450,000 additional shares to cover over over-allotments. All of the shares are being sold by the company and will begin trading tomorrow on the Nasdaq National Market under the symbol "JRJR." The company will receive approximately $46.3 million in net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). . 800-JR-CIGAR is the largest distributor and retailer of brand name premium cigars in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and also sells mass market cigars, cigarettes, other tobacco products and a variety of discounted general merchandise. CONTACT: 800-JR-CIGAR Timothy P. Shannon 201/884-9555 |
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