EDUCATION ALTERNATIVES FILES OFFERING REGISTRATION
EDUCATION ALTERNATIVES FILES OFFERING REGISTRATION MINNEAPOLIS, March 27 /PRNewswire/ -- Education Alternatives, Inc.
(NASDAQ: EAIN) announced today that it has filed a registration statement with the Securities and Exchange Commission. The registration statement relates to an institutional placement of 1,000,000 shares of common stock offered by the company and up to 131,000 shares of common offered by certain unaffiliated selling shareholders. Dain Bosworth Incorporated and John G. Kinnard and Company will act as agents in connection with the placement.
The company intends to use the net proceeds to finance working capital requirements related to potential management and consulting contracts, to fund continued developments of the company's educational products and for general corporate purposes. Education Alternatives is primarily in the business of providing private management of public schools. A registration statement relating to these 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 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. A prospectus meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained from the Secretary of Education Alternatives, Inc., 1600 West 82nd Street, Minneapolis, Minn. 55431. -0- 3/27/92 /CONTACT: John T. Golle of Education Alternatives, 612-885-5572/ (EAIN) CO: Education Alternatives, Inc. ST: Minnesota IN: SU: OFR
AL -- MN011 -- 2516 03/27/92 16:39 EST
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|Date:||Mar 27, 1992|
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