Aris Industries Announces Letter of Intent for Investment by Venture Capital Firm.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 4, 2001 Aris Industries, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BB - AISI AISI American Iron and Steel Institute AISI African Information Society Initiative AISI Alberta Initiative for School Improvement (Canada) AISI As I See It AISI American International Supply, Inc (Oakland, CA) ) announced that it entered into a non-binding letter of intent with a Los Angeles-based venture capital firm, pursuant to which such firm has proposed to invest $20,000,000 in Aris in the form of a collateralized debenture, convertible into common stock of the Company. The Company anticipates a closing of the first $10,000,000 of such investment by the end of January, with the closing of the second $10,000,000 by the end of February. Aris designs, manufactures and sells sportswear, outerwear and loungewear lounge·wear n. Clothing suitable for relaxing. Noun 1. loungewear - clothing suitable for relaxation article of clothing, clothing, habiliment, wearable, vesture, wear - a covering designed to be worn on a person's under a variety of tradenames including XOXO XOXO Hugs and Kisses XOXO Extensible Open Xhtml Outlines XOXO XO Communications, Inc. (former stock symbol) , Baby Phat Baby Phat is an urban fashion line of clothing and other items for women and girls designed by Kimora Lee Simmons. Besides clothing, the brand also includes accessories for phones, jewelry, shoes and clothes. It is the corporate "sibling" of the clothing brand Phat Farm. , Brooks Brothers Golf and Members Only. Certain information discussed in this press release may constitute forward-looking statements within the meaning of the Federal securities laws. Although Aris Industries believes that expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends, and uncertainties that could cause actual results to differ materially from those projected. For a more complete description of factors, which could impact Aris Industries and the statements contained herein, reference should be made to Aris Industries' filings with the United States Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion