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APPLIANCE RECYCLING CENTERS OF AMERICA, INC. ANNOUNCES CLOSING OF COMMON STOCK OFFERING

 MINNEAPOLIS, April 16 /PRNewswire/ -- Appliance Recycling Centers of America, Inc. (NASDAQ: ARCI) (ARCA) today announced the closing of a secondary offering of 460,000 shares of its common stock, including 60,000 shares pursuant to the underwriters exercising their over- allotment option. The shares were sold through a syndicate managed by Craig-Hallum, Inc. at $13.25 per share, with the net proceeds to the company of approximately $5.5 million. The proceeds from the offering will be used to finance the expansion of the company's business and to provide additional working capital. After the closing, the company has 3,982,668 shares of common stock outstanding.
 Appliance Recycling Centers of America, Inc. provides comprehensive appliance recycling services throughout the United States and Canada. The focus of the company's business is large-scale collection and processing of unwanted major household appliances in an environmentally sound manner.
 -0- 4/16/93
 /CONTACT: Kent S. McCoy of Appliance Recycling Center of America, 612-331-1000/
 (ARCI)


CO: Appliance Recycling Centers of America, Inc. ST: Minnesota IN: ENV SU: OFR

AL -- MN010 -- 6866 04/16/93 15:12 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
Words:182
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