ALL AMERICAN ANNOUNCES INCREASE IN SENIOR LOAN FACILITY AND SIGNING OF LETTER OF INTENT FOR PUBLIC OFFERING.MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. , Fla.--(BUSINESS WIRE)--March 31, 1995--All American (The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. :SEMI), a national distributor of electronic components, today announced that its senior lender has increased the Company's loan facility from $25 million to $30 million; provided, however, that the Company may borrow in excess of $27 million after (i) the senior lender has reviewed and been satisfied with the Company's audited consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge for the year ended December 31, 1994, and (ii) the Company has received additional net capitalization of not less than $4 million from the issuance of its equity securities. Furthermore, the Company has signed a non-binding letter of intent with Lew Lieberbaum & Company, Inc. to underwrite To insure; to sell an issue of stocks and bonds or to guarantee the purchase of unsold stocks and bonds after a public issue. The word underwrite has two meanings. a public offering of approximately 4,500,000 shares of its common stock (excluding the overallotment option overallotment option See greenshoe. ) on a firm commitment basis. The Company currently anticipates that such offering will come to market in May 1995. The registration statement, however, has not yet been filed with the Securities and Exchange Commission and there is no assurance that such underwriting will be successfully completed. CONTACT: ALL AMERICAN or The Equity Group Inc. Bruce M. Goldberg, President Linda Latman (212) 836-9609 (305) 626-4150 or Howard L. Flanders, CFO See Chief Financial Officer. Robert D. Goldstein (305) 626-4149 (212) 371-8660 |
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