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NAVARRE CORPORATION FILES REGISTRATION STATEMENT WITH SEC

 MINNEAPOLIS, Nov. 17 /PRNewswire/ -- Navarre Corporation announced today that it has filed a Registration Statement with the Securities and Exchange Commission for the sale of 1,250,000 shares of common stock, no par value, of which 1,200,000 shares are being sold by the company and 50,000 shares are being sold by selling shareholders. The shares will be sold to the public through an underwriting group headed by Hamilton Investments, Inc. and Craig-Hallum. In addition, the company will grant the underwriters an option to purchase up to an additional 187,500 shares to cover over-allotments. The company expects the offering to become available to the public in mid-December at a price between $6.00-7.00 per share. Upon conclusion of the offering, the company will have 3,045,390 shares outstanding.
 The company has been engaged in the distribution of prerecorded music and personal computer software since 1983. The company's product line includes prerecorded music, personal computer software and interactive CD-ROM software. The proceeds of the offering will be used to repay short-term borrowings and to increase working capital to support expansion of the company's business.
 The Registration Statement relating to these securities has not yet become effective. The securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement does not constitute an offer to sell or the solicitation of an offer to buy these securities. There shall be no sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under securities laws of any such state.
 -0- 11/17/93
 /CONTACT: Brian Anderson of Hamilton Investments, 312-444-2144; or Charles Cheney of Navarre, 612-535-8333/


CO: Navarre Corporation ST: Minnesota IN: SU:

DB-CP -- MN005 -- 5387 11/17/93 10:40 EST
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Publication:PR Newswire
Date:Nov 17, 1993
Words:309
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