99 Cents Only Stores Announces the Filing of a Registration Statement With the Securities and Exchange Commission.CITY OF COMMERCE, Calif.--(BUSINESS WIRE)--March 31, 1998-- 99 Cents Only Stores (NYSE NYSE See: New York Stock Exchange :NDN NDN Indian NDN Naples Daily News (Daily news paper in Naples Florida) NDN Non Delivery Notification NDN National Data Network NDN Necdin NDN New Democratic Network NDN Next Door Neighbor NDN Nevada Donor Network ) announced that it has filed a registration statement with the Securities and Exchange Commission in connection with an underwritten offering Underwritten offering A purchase and sale. of 3,500,000 shares of common stock. Of the shares being offered, 2,750,000 shares are being offered by certain selling stockholders and 750,000 shares are being offered by the company. The company will not receive any proceeds from the shares being offered by the selling stockholders. Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co., Goldman, Sachs & Co., Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , EVEREN Securities Inc. and Piper Jaffray Inc. will manage the offering. The offering will be made in the United States, Canada and internationally. 99 Cents Only Stores is a leading deep-discount retailer of primarily name-brand, consumable general merchandise at an affordable, single price point of 99 cents. The company's stores offer a wide assortment of regularly available consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and , as well as a broad variety of first-quality, close-out merchandise. In 1997, a majority of the company's product offerings were composed of recognizable name-brand merchandise, and were regularly available for reorder re·or·der v. re·or·dered, re·or·der·ing, re·or·ders v.tr. 1. To order (the same goods) again. 2. To straighten out or put in order again. 3. To rearrange. v. . The company also sells merchandise through its Bargain Wholesale division at prices generally below normal wholesale levels to local, regional and national discount, drug and grocery store chains and independent retailers, distributors and exporters. The company's 54 existing 99 Cents Only Stores are located in Southern California. -0- A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. CONTACT: 99 Cents Only Stores, City of Commerce Eric Schiffer, 213/881-9912 |
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