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D.I.Y. HOME WAREHOUSE, INC. FILES INITIAL PUBLIC OFFERING OF 2,175,000 COMMON SHARES WITH SEC

 CLEVELAND, April 19 /PRNewswire/ -- D.I.Y. Home Warehouse, Inc. announced today it filed a registration statement on March 25, 1993, with the Securities and Exchange Commission covering a proposed initial public offering of 2,175,000 shares of common stock. All of the shares are being offered by the company.
 William Blair & Company, McDonald & Company Securities, Inc. and The Ohio Company will co-manage the underwriting group. The offering is expected in May at an estimated price of $9 to $11 a share.
 Net proceeds will be used to fund the distribution of previously taxed but undistributed earnings to the company's current shareholders, to repay debt and to expand the company's business.
 Headquartered in Cleveland, D.I.Y. Home Warehouse, Inc. operates six warehouse-format home improvement centers that sell products primarily to do-it-yourself home repair and remodeling customers. Its stores are located in the Cleveland metropolitan area and offer a wide selection of home improvement products, with each store carrying approximately 24,000 items at everyday low prices.
 A registration statement relating to the securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these 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.
 -0- 4/19/93
 /CONTACT: Clifford L. Reynolds, president, D.I.Y. Home Warehouse, Inc., 216-328-5100; or Mark A. Timmerman of William Blair & Company, 312-236-1600/


CO: D.I.Y. Home Warehouse, Inc. ST: Ohio IN: REA SU: OFR

ML-JG -- DE018 -- 7361 04/19/93 11:52 EDT
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Publication:PR Newswire
Date:Apr 19, 1993
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