RONAN, Mont.--(BUSINESS WIRE)--Oct. 22, 1999--Jore Corporation (Nasdaq:JORE) today announced that D.A. Davidson & Co., acting as the representative of the underwriters in Jore Corporation's recently completed initial public offering, exercised the over-allotment option and purchased an additional 600,000 shares of Common Stock from the company.
The additional proceeds of $6.0 million bring the total proceeds of the offering before commissions and expenses to $46.0 million. The option was granted in connection with Jore Corporation's September initial public offering. With the exercise of the option, Jore Corporation now has 13.8 million shares of Common Stock outstanding.
Jore Corporation is a leader in the design, manufacture and marketing of innovative power tool accessories and hand tools for the do-it-yourself and professional craftsman markets. The company provides a comprehensive system of proprietary drilling and driving products that save users time by offering enhanced functionality, productivity and ease of use.
By using state of the art technologies and advanced equipment designs in its manufacturing processes, the company is a cost leader in producing high quality products. Jore Corporation sells its products under its licensed Stanley brand, as well as under various private labels, to the industry's largest retailers and power tool manufacturers such as Sears, Roebuck and Co., The Home Depot, Canadian Tire, Black & Decker Corporation and Makita Corporation.
The prospectus relating to the securities may be obtained from the prospectus department of D.A. Davidson & Co. at P.O. Box 5015, Great Falls, MT 59403.
CONTACT: Morgen-Walke Associates, Inc.
Leigh Parrish/John Swenson, 415/296-7383
(Investor Relations)
Sheryl Seapy/Aeron Noe, 415/296-7383 (Media Relations)
Eric Gonzales, 212/850-5600 (Wire Services)
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