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FUNCO, INC. REGISTRATION STATEMENT EFFECTIVE FOR PUBLIC OFFERING OF 1,350,000 COMMON SHARES

 MINNEAPOLIS, June 21 /PRNewswire/ -- The Securities and Exchange Commission today declared effective the registration statement for the public offering of 1,350,000 shares of common stock of Funco, Inc., 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 are William Blair & Co. and Miller, Johnson & Kuehn Incorporated.
 Shares will be sold at a price of $11 per share. The net proceeds to the company (estimated to be $12,572,500 after underwriting discounts and expenses) will be used to develop additional retail stores, expand the company's management information systems and fund other general corporate purposes.
 Funco, Inc., through its 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 operated 63 retail stores in five major metropolitan areas at June 1, 1993. 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 and has become effective. These securities may be sold only by use of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933. 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- 6/21/93
 /CONTACT: Robert M. Hiben of Funco, Inc., 612-946-7202, or Kelley R. Drake of William Blair & Company, 312-236-1600, for Funco/


CO: Funco ST: Minnesota IN: ENT SU: OFR

DB -- MN014 -- 4252 06/21/93 18:58 EDT
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Publication:PR Newswire
Date:Jun 21, 1993
Words:451
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