CLARIFICATION of BW0241, Outdoor Systems Inc. makes announcement.PHOENIX--(BUSINESS WIRE)--Aug. 20, 1996--Outdoor Systems Inc. (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 :OSIA OSIA Order Sons of Italy in America OSIA On Site Inspection Agency OSIA Open Source Industry Association OSIA Open Source Industry Australia Limited (Australia) OSIA One Stop Italian America (online community) ) Tuesday announced that its registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc its offering of common stock was declared effective yesterday by the Securities and Exchange Commission. The size of the offering was increased from the originally planned offering of 7.7 million shares to 8.6 million shares. The sale of shares will close on Aug. 22, 1996. The Phoenix based outdoor advertising company plans to use approximately $241 million of the proceeds received by it from the stock sale to partially finance the acquisition of the Outdoor Division of Gannett Inc., a transaction announced in July. The company will borrow the remainder of the purchase price. Alex. Brown & Sons Inc., Donaldson, Lufkin & Jenrette Securities Corp., and CIBC Wood Gundy CIBC Wood Gundy was created in 1988 with the purchase of Wood Gundy Inc. by CIBC. CIBC Wood Gundy is a division of CIBC World Markets. Canadian Imperial Bank of Commerce Chief Executive Officer: Gerald T. McCaughey | FY 2006 Statistics: Net income: $2. Securities Corp. are acting as underwriters of the offering. Outdoor Systems Inc. is listed on the NASDAQ National Market under the symbol: OSIA. Upon completion of the Gannett Outdoor Division acquisition, Outdoor Systems Inc. will be the largest outdoor advertising company in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , operating approximately 58,000 advertising display faces in 22 metropolitan markets in the United States and seven metropolitan markets in Canada. -0- NOTE TO EDITORS: This release supersedes the release relating to this subject issued previously today. CONTACT: Outdoor Systems Inc., Phoenix Arte Moreno, 602/246-9569 |
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