ACCLAIM ENTERTAINMENT COMMENCES STOCK OFFERING
ACCLAIM ENTERTAINMENT COMMENCES STOCK OFFERING OYSTER BAY, N.Y., Dec. 19 /PRNewswire/ -- Acclaim Entertainment,
Inc. (NASDAQ: AKLM) announced today that it has commenced its underwritten public offering of 4 million shares of common stock, at a price to the public of $4.25 per share. The offering is being managed by Volpe, Welty & Co. of San Francisco, Calif.
The proceeds of the offering will be used to reduce short-term indebtedness and increase working capital in support of Acclaim's expanding operations in Europe, its 1992 entry into the Sega market and increased domestic manufacturing. Acclaim Entertainment, Inc., with offices in Canada, Germany, Japan and the United Kingdom, is a leading worldwide publisher of interactive entertainment products under the Acclaim and LJN labels. These include Super Nintendo Entertainment System(R), Nintendo Entertainment System(R), Game Boy(R), and personal computer software; wireless remote controllers and hand-held electronic video games. The company is publicly traded over the counter under the NASDAQ symbol AKLM. Copies of the prospectus relating to the offering may be obtained from Volpe, Welty & Co., One Maritime Plaza, San Francisco, Calif. 94111, Attention: Syndicate Department. A registration statement relating to the company's common stock has been filed with the Securities and Exchange Commission and became effective on Dec. 18, 1991. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of these securities in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities of any such state. -0- 12/19/91 /CONTACT: Gregory Fischbach or Allyne Mills of Acclaim Entertainment, 516-922-2400/ (AKLM) CO: Acclaim Entertainment, Inc. ST: New York IN: ENT SU: OFR PS -- NY005 -- 3762 12/19/91 09:59 EST
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|Date:||Dec 19, 1991|
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