NEW YORK BAGEL ENTERPRISES, INC. PRICES INITIAL PUBLIC OFFERING OF 2 MILLION SHARES AT $9.00 PER SHARE.WICHITA, Kan.--(BUSINESS WIRE)--Aug. 27, 1996--New York Bagel Enterprises, Inc. (Nasdaq/NM: NYBS NYBS New York Bus Service ) today announced its initial public offering of 2.0 million shares of the Company's common stock at $9.00 per share. Of the shares of common stock offered, 1,800,000 of the shares were sold by the Company and 200,000 of the shares were sold by selling stockholders. 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 Bagel intends to use 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). from the sale of its shares to repay bank indebtedness, to finance the development of Company-owned restaurants, for possible acquisitions and for general corporate purposes. Rauscher Pierce Refsnes, Inc. and J.C. Bradford & Co. are the managing underwriters Managing underwriter The leading firm in an underwriting group, which originates the deal and acts as an agent for the group. managing underwriter See lead underwriter. of the offering. New York Bagel and the selling stockholders have granted the underwriters an over-allotment option to purchase up to 300,000 additional shares of common stock. The shares trade in the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (National Market) under the symbol NYBS. New York Bagel Enterprises, Inc. owns and franchises 52 quick- service New York Bagel restaurants in 16 states that serve generous portions of fresh, high quality food with fast, friendly service at an attractive price-value relationship. The restaurants provide a selection of up to 20 varieties of bagels that are made from scratch, boiled and baked throughout the day in the traditional "New York style." Breakfast menu items also include custom blended cream cheeses, breakfast bagel sandwiches, gourmet coffees, muffins and croissants. Lunch and dinner items include an assortment of bagel delicatessen sandwiches, prepared salads, cookies and soft drinks. ***** This press release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the Prospectus relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the offering may be obtained from the managing underwriters. CONTACT: New York Bagel Enterprises, Inc., Wichita Robert J. Geresi, 405/624-3700 |
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