Business Resource Group completes 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)--June 29, 1995--Business Resource Group announced today the completion of its initial public offering of 1,500,000 shares of Common Stock (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market: BRGP) at a price of $7.00 per share. All of the shares were offered 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). are expected to be used to fund a distribution of S Corporation earnings, 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. The offering was managed by Needham & Company, Inc. and Van Kasper & Company. Business Resource Group, originally founded as Business Interiors in 1987, is a leading provider of workspace services and products to businesses in Northern California. In response to changing customer requirements and the trend toward corporate outsourcing, the Company offers a robust suite of twelve separate pre-installation, implementation, and facilities management services. These services support and enhance the Company's platform of workspace product offerings, which include modular furniture 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 the offering may be obtained from Needham & Company, 400 Park Avenue, 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 , New York 10022, 212/371-8300 or Van Kasper & Company, 600 California Street, Suite 1700, San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] 94108, 415/391-5600. CONTACT: Business Resource Group Jessica MacKenzie, 408/441-3700 |
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