Samuels Jewelers Inc. Announces Registration of Common Shares
AUSTIN, Texas--(BUSINESS WIRE)--June 9, 1999--Samuels Jewelers Inc. (OTC BB:SMJW) announced today that it had registered 7,790,950 shares after the filing of a registration statement with the Securities and Exchange Commission. Samuels' stock currently trades on Nasdaq's OTC Bulletin Board under the symbol "SMJW".
2,790,950 shares of the registered stock had been previously issued to controlling shareholders of Samuels Jewelers Inc. upon its formation in October 1998. These shares were not exempt from registration as part of Barry's Jewelers Inc.'s (Samuels predecessor in interest) reorganization.
The remaining 5,000,000 shares were registered for use by Samuels in its ongoing acquisitions of other businesses or property. Although no acquisitions have been consummated, Samuels has begun negotiations for several properties and may enter negotiations for more such properties in the future.
Samuels Jewelers operates a mall-based chain of specialty retail jewelry stores. Samuels' stores offer fine jewelry items in a wide range of styles and prices, emphasizing diamond and gemstone jewelry. It currently operates 115 stores around the country, with locations in 18 states, primarily Texas, California, Colorado, Utah, Idaho, Montana, North Carolina and Arizona. |
