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Technology Stocks : Audio Book Club (KLB) Next big internet play?
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To: KLAW97 who wrote (144)7/20/1999 11:30:00 PM
From: david james   of 146
 
If that worked you will see that in addition to the purchase of
540,000 shares at $13/share, KLB has just paid off its convertible notes.

freeedgar.com

1. On July 2, 1999, Audio Book Club issued and sold 540,000 shares of its
common stock at a price of $13.00 per share to three "qualified
institutional buyers", as defined in Rule 144A promulgated under the
Securities Act of 1933. Audio Book Club agreed to file with the Securities
and Exchange Commission a registration statement covering these shares
within 60 days from the date of the sale.

2. On July 6, 1999, Audio Book Club repaid a $4.35 million 9% convertible
senior subordinated note issued to Norton Herrick, its Co-Chief Executive
Officer and Chairman of the Board, to help Audio Book Club finance its
acquisition of Doubleday Direct Inc.'s Audiobooks Direct Club in June 1998.
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