Printer Friendly

JEAN PHILIPPE FRAGRANCES, INC. TO SELL COMMON STOCK IN PRIVATE PLACEMENT TO INSTITUTIONAL INVESTORS

 NEW YORK, May 24 /PRNewswire/ -- Jean Philippe Fragrances, Inc. (NASDAQ-NMS: JEAN) announced today that it and Philippe Benacin, a controlling shareholder of Jean Philippe Fragrances, Inc., have entered into agreements with a limited number of institutional investors in the United States and abroad under which these investors have agreed to purchase in a private placement transaction, 550,000 shares of common stock from Jean Philippe Fragrances, Inc. and 450,000 shares of common stock from Mr. Benacin, at $15.00 per share. Net proceeds (before expenses) will be $7,796,250 to the company and $6,378,750 to Mr. Benacin.
 The closing of the private placement, which was arranged through Bear, Stearns & Co. Inc., is conditioned upon the Securities and Exchange Commission declaring effective within 60 days of the date that the last agreement was signed and accepted by Jean Philippe Fragrances and Mr. Benacin, a registration statement to permit the public sale from time to time of such shares. Jean Philippe Fragrances intends to file the registration statement shortly.
 Jean Philippe Fragrances is a manufacturer and distributor of fragrances, and cosmetics: (i) domestic and international licensed fragrances and cosmetics, (ii) alternative designer fragrances for men and women in North and South America and (iii) moderately priced fragrances, internationally.
 -0- 5/24/93
 /CONTACT: Russell Greenberg, executive vice president of Jean Philippe Fragrances, Inc., 212-983-2640/
 (JEAN)


CO: Jean Philippe Fragrances, Inc. ST: New York IN: HOU SU:

WB-LD -- NY012 -- 1473 05/24/93 07:01 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:May 24, 1993
Words:247
Previous Article:WORKPLACE DRUG TESTING NEWSLETTER TO DEBUT IN AUGUST; NFL DRUG
Next Article:AMERICAN STOCK EXCHANGE APPROVES AIR METHODS CORPORATION COMMON STOCK FOR MARGINABILITY
Topics:


Related Articles
JEAN PHILIPPE RECEIVES SCHEDULE 13G DISCLOSING HOLDINGS BY GROUP OF FRENCH AFFILIATED INSURANCE COMPANIES AND THE EQUITABLE COMPANIES
JEAN PHILIPPE FRAGRANCES CLOSES ON PRIVATE PLACEMENT OF STOCK TO INSTITUTIONAL INVESTORS
JEAN PHILIPPE REPORTS RECORD FOURTH QUARTER AND FISCAL YEAR SALES AND EARNINGS RESULTS
Jean Philippe Fragrances Consents to Relinquish Cutex License as Part of Third-Party Agreement to Sell Cutex Trademarks
Jean Philippe Fragrances Announces Appointment of Robert Bensoussan-Torres As a Director
Jean Philippe Fragrances Reports Third Quarter 1998 Results; Board of Directors Increase Stock Repurchase Program to 2.5 Million Shares.
Jean Philippe Fragrances Reports Fourth Quarter and Year End Results; Board of Directors Increase Stock Repurchase Program to 3.5 Million Shares.
Jean Philippe Fragrances Reports First Quarter 1999 Results.
Jean Philippe Fragrances, Inc. to Change Name to Inter Parfums, Inc.
Shareholders of Jean Philippe Fragrance Approve Name Change to Inter Parfums, Inc.

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