Printer Friendly

BUCKEYE COMMUNICATIONS, INC. ANNOUNCES COMPLETION OF A PRIVATE OFFERING OF SECURITIES TO ACCREDITED INVESTORS

 NEW YORK, Dec. 10 /PRNewswire/ -- BUCKEYE COMMUNICATIONS, INC., (OTC Bulletin Board: BKCI) announced today that the amount raised in its previously announced private offering of Units consisting of one share of Series A Convertible Cumulative Preferred Stock, and ten Class C Redeemable Warrants each to purchase one share of the Company's Common Stock has been increased. The total amount raised by the offering was $8,471,000 (211,775 Units), consisting of $8,379,400 (209,485 Units) in cash and $91,600 (2,290 Units) in extinguishment of indebtedness owed to an officer/director. In addition, the Company issued an aggregate of 296,485 Class C Redeemable Warrants to the lenders who participated in the Company's $4,050,000 financing which closed on April 30, 1993 in consideration of their waiver of certain prepayment provisions.
 BUCKEYE, established in 1988, is a company which seeks investment and business opportunities in the leisure and entertainment industries including investments in such areas as (i) merchandising, licensing and intellectual assets, including the marketing and distribution of various consumer products through direct response and other traditional retail methods on a worldwide basis, (ii) themed tourist attractions, and (iii) entertainment. BUCKEYE common stock is quoted on the over-the-counter non-NASDAQ Bulletin Board under the symbol BKCI.
 -0- 12/10/93
 /CONTACT: Mark P. Hershhorn, president and Chief Operating Officer, or Arnold P. Kling, esq., general counsel, 212-888-9115, or 215-891-8320, or fax 212-888-9399, or 215-891-8326/
 (BKCI)


CO: Buckeye Communications, Inc. ST: IN: FIN LEI ENT SU: OFR

LG-PS -- NY075 -- 2755 12/10/93 16:05 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 10, 1993
Words:259
Previous Article:WINNEBAGO ANNOUNCES NEW FUEL-EFFICIENT, FRONT-WHEEL-DRIVE MOTOR HOME TO BE AVAILABLE THIS SPRING
Next Article:PMSC SIGNS $150 MILLION NORDIC OUTSOURCING AGREEMENT
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters