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ULTIMATE ELECTRONICS (DBA SOUNDTRACK) ANNOUNCES FILING OF REGISTRATION STATEMENT FOR INITIAL PUBLIC OFFERING

 DENVER, Sept. 2 /PRNewswire/ -- Ultimate Electronics Inc. announced today the filing of a registration statement with the Securities and Exchange Commission for the sale of 2,000,000 shares of common stock. Prior to the proposed offering there has been no public market for the common stock. The initial public offering price is currently anticipated to be between $8 and $10 per share. The proposed offering will be managed by Piper Jaffray Inc.
 The company plans to use the net proceeds of the offering to finance expansion into new markets, to pay an S corporation distribution to stockholders, to repay debt and for general corporate purposes.
 Ultimate Electronics does business in Colorado under the name SoundTrack(SM) and is a leading specialty retailer of home entertainment and consumer electronics in Colorado.
 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 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- 9/2/93
 /CONTACT: Alan E. Kessock of Ultimate Electronics, 303-420-1366/


CO: Ultimate Electronics Inc. ST: Colorado IN: CPR SU: OFR

MC -- DV005 -- 8617 09/02/93 17:40 EDT
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Publication:PR Newswire
Date:Sep 2, 1993
Words:259
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