Big Dog Holdings Inc. Announces Final Results of $6.25 Per Share Cash Tender Offer for 3.5 Million Shares.Business Editors SANTA BARBARA Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. , Calif.--(BUSINESS WIRE)--Sept. 6, 2000 Big Dog Holdings Inc. (Nasdaq:BDOG) (www.bigdogs.com) today announced the final results of its previously announced cash tender offer to purchase 3,500,000 of its common shares at a price per share of $6.25. The cash tender offer expired at 9 a.m. Pacific time on Aug. 30, 2000. A total of 6,943,926 common shares were tendered and delivered pursuant to the offer, of which the company accepted for payment 3,500,208 common shares. The company, pursuant to the terms of the offer, accepted slightly more than 3.5 million shares in order to avoid issuing fractional shares. Because the offer was oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. , a proration Proration A situation during a corporate action in which the available cash or shares are not sufficient to satisfy the offers tendered by shareholders. Therefore, a proportion of both cash and shares is granted for each offer tendered. factor of 50.4 percent for the tendered shares has been applied. Immediately before giving effect to the cash tender offer, the company had approximately 11,983,450 common shares outstanding. As a result of the completion of the cash tender offer, the company will have approximately 8,483,242 common shares outstanding as of the time immediately following payment for the tendered shares accepted for payment. Big Dogs Big Dogs, based in Santa Barbara, California, is a chain of stores in the United States which features clothing and apparel holding the "Big Dogs" brand name. The Company develops, markets and retails a branded, lifestyle collection of unique, high-quality, popular-priced consumer products, including activewear, casual sportswear, accessories and gifts. The BIG DOGS brand image is one of quality, fun and a sense of humor Noun 1. sense of humor - the trait of appreciating (and being able to express) the humorous; "she didn't appreciate my humor"; "you can't survive in the army without a sense of humor" sense of humour, humor, humour . The BIG DOGS brand is designed to appeal to people of all ages and demographics, particularly baby boomers and their kids, big and tall customers, and pet owners. In addition to its 198 retail stores, Big Dogs markets its products through its catalog, better wholesale accounts and Internet sales. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 1995: With the exception of historical information, the matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of the company could differ significantly from those statements. Further information on the company's risk factors is contained in the company's filings with the Securities and Exchange Commission. |
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