ALL AMERICAN CLOSES ITS PUBLIC OFFERING OF COMMON STOCK.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. , Florida--(BUSINESS WIRE)--June 15, 1995--All American Semiconductor, Inc. (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) today announced that it has closed on a public offering of 4,550,000 shares of its common stock (excluding the over-allotment option) at a price of $1.875 per share. The offering was underwritten on a firm commitment basis by Lew Lieberbaum & Co., Inc., Garden City, New York Garden City, New York is a village in central Nassau County, New York in the USA, which was founded by multi-millionaire Alexander Turney Stewart in 1869. The village is located 18.5 miles to the east of mid-town Manhattan, on Long Island. . The 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). of the offering of approximately $7,250,000 will be used initially to reduce the Company's line of credit pending its use for continued expansion of the Company, including opening new sales offices, inventory diversification and general working capital. All American was recently ranked as the nation's 21st largest distributor of electronic components and the 9th largest distributor of semiconductors in the United States. All American has offices in 20 strategic locations throughout the country. CONTACT: INVESTOR RELATIONS COUNSEL: ALL AMERICAN -or- The Equity Group Inc. Bruce M. Goldberg, Linda Latman President 212/836-9609 305/626-4150 Robert D. Goldstein Howard L. Flanders, CFO See Chief Financial Officer. 212/371-8660 305/626-4149 |
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