PHOENIX--(BUSINESS WIRE)--April 21, 1997--Ugly Duckling Corp.
(NASDAQ/NM:UGLY) Monday announced that it has completed the
registration of 5,413,144 shares of common stock.
Of those shares, 5,075,500 were originally sold in February 1997
to institutional investors in a private placement and 337,644 were
previously sold to a single institutional investor. Since the
registration statement covers the resale of shares previously issued
by the company, the company will receive no proceeds.
A copy of the prospectus may be obtained from Ugly Duckling,
2525 E. Camelback Road, Suite 1150, Phoenix, Ariz. 85016,
602/852-6600.
With headquarters in Phoenix, Ugly Duckling operates the largest
publicly held chain of "buy here-pay here" used car dealerships in
the United States and underwrites, finances and services retail
installment contracts generated from the sale of used cars by its
dealerships and by third party used car dealers located in selected
markets throughout the country.
This news release includes statements which may constitute
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements.
Factors which would cause or contribute to such differences
include, but are not limited to, factors detailed in the section
titled "Risk Factors" and elsewhere in the company's prospectus
dated April 21, 1997, and in Ugly DUckling's other Securities and
Exchange Commission filings.
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CONTACT:
Ugly Duckling Corp., Phoenix
Steve T. Darak, 602/852-6600
or
Silverman Heller Associates
Eugene G. Heller/Lori C. Parks, 310/208-2550 |
