Business Resource Group Files for Initial Public Offering of 1,500,000 Shares of Common Stock.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--May 24, 1995--Business Resource Group announced today that it has filed a registration statement with the Securities and Exchange Commission with respect to a proposed initial public offering of 1,500,000 shares of common stock. The offering price of the common stock is expected to be between $7 and $9 per share. The offering will be managed by Needham & Co. Inc. and Van Kasper & Co. All of the shares are to be issued and sold by the company. 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). to the company are expected to be used to fund a distribution of S Corporation earnings to the company's current shareholders, to repay a portion of the company's existing indebtedness under its revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. , for the acquisition of complementary businesses and for general corporate purposes, including working capital. Business Resource Group is a leading provider of workspace services and products to businesses in Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern , operating under the fictitious business name, "Business Interiors." These services include computerized space planning and design, project management, product specification, order management, move management and installation. Products sold by the company include modular systems, casegoods, seating and filing systems. The company markets its services and products through a direct sales force, focusing on rapidly growing companies and on companies in the process of significantly changing their facilities arrangements. Copies of the prospectus relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the proposed offering may be obtained from Needham & Co., 400 Park Ave., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , N.Y. 10022, 212/371-8300 or Van Kasper & Co., 600 California St., Suite 1700, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA 94108, 415/391-5600. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. CONTACT: Business Resource Group, San Jose Jessica MacKenzie, 408/441-3700 |
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