Printer Friendly

FUNCO, INC. FILES FOR PUBLIC OFFERING OF 1,350,000 COMMON SHARES

 MINNEAPOLIS, June 3 /PRNewswire/ -- Funco, Inc. (NASDAQ: FNCO) announced today that it has filed a registration statement with the Securities and Exchange Commission covering a proposed public offering of 1,350,000 shares of Common Stock, of which 1,250,000 shares are being offered by the company and 100,000 shares are being offered by David R. Pomije, the company's founder and chief executive officer.
 The managing underwriters of the offering will be William Blair & Co. and Miller, Johnson & Kuehn Incorporated.
 The net proceeds to the company will be used to develop additional retail stores, expand the company's management information systems, repay short-term indebtedness and for other general corporate purposes.
 Funco, Inc., through its 63 FuncoLand stores, is a leading specialty retailer of previously played interactive entertainment. The company's products include a wide selection of Nintendo(R) and Sega(R) video games, hardware and accessories, with each store offering approximately 1,500 different game titles, including hard-to-find collectors' games no longer in production. The majority of the company's merchandise is previously played and is sold at an average of half the price for which these products originally sold new. The FuncoLand store concept provides consumers an opportunity to sell their video games that they no longer play and apply that value toward other new or previously played video games. The company emphasizes personalized attention to its customers and provides game sampling areas to assist in selection of new and previously played games. The company operates 63 retail stores in five major metropolitan areas. These stores are supported by Funco's mail order operation and its publication of Game Informer, a video game magazine with over 50,000 paid subscribers.
 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 announcement 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 written prospectus meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained from the managing underwriters.
 -0- 6/03/93
 /CONTACT: Robert M. Hiben of Funco, Inc., 612-946-7202, or Kelley R. Drake of William Blair & Company, 312-236-1600, for Funco/
 (FNCO)


CO: Funco, Inc. ST: Minnesota IN: REA SU: OFR

DB -- MN025 -- 5234 06/03/93 18:11 EDT
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:Jun 3, 1993
Words:439
Previous Article:ENVIRONMENTAL TECHNOLOGIES USA, INC. HAILS NEW STARCH-BASED PACKAGING LEGISLATION
Next Article:MICHAEL C. BRAUN NAMED PRESIDENT, CHIEF EXECUTIVE OFFICER OF MERCHANDISE NATIONAL BANK
Topics:


Related Articles
MICROTOUCH SYSTEMS FILES FOR INITIAL PUBLIC OFFERING OF 1,350,000 SHARES OF COMMON STOCK
FUNCO ANNOUNCES INITIAL PUBLIC OFFERING
FUNCO ANNOUNCES FIRST QUARTER RESULTS
/C O R R E C T I O N -- FUNCO, INC./
FUNCO, INC. REGISTRATION STATEMENT EFFECTIVE FOR PUBLIC OFFERING OF 1,350,000 COMMON SHARES
FUNCO, INC. ANNOUNCES EARNINGS
FUNCO, INC. EARNINGS RELEASE
Funco Receives Revised Acquisition Proposal From Electronics Boutique at $21 Per Share.
Funco Approves Revised Acquisition Proposal From Electronics Boutique At $21 Per Share.
Funco Announces Receipt of Letter Agreement from Barnes & Noble.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters