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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: TeamTi who wrote (11487)	4/8/2003 1:08:00 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 19428

Thanks. Perhaps FAO effects a R/S at some time in the future, so perhaps a nice trade when it completed a bounce. I need to read the plan a bit, sounds to me that there is some debt left and FAO not a big earner anyways. On a happier side, DRYR begins to cave in and the pricing of the may options spells some shadow over the proposed acquisition.

To: TeamTi who wrote (11487)	4/14/2003 11:55:02 AM
From: RockyBalboa	Read Replies (3) \| Respond to of 19428

Kablooom! ----> Bankrupt FAO Says It's Unable to Complete Exit Funding Monday April 14, 11:07 am ET KING OF PRUSSIA, Pa. -- FAO Inc. , citing "unexpected complications," said it was unable to complete the exit funding needed for its planned emergence from Chapter 11 bankruptcy. The upscale toy retailer said "complications" in completing the funding led to withdrawal by the purchasers of its equity. An FAO spokeswoman said there was a difference in the final terms between its bank lenders and equity investors. She declined to elaborate further. In late-morning trading Monday, shares of FAO were halted on news at 25 cents on the over-the-counter Bulletin Board. FAO said the successful completion of the funding is a condition to its emergence from bankruptcy on Friday. The toy retailer said its right to use cash that is collateral for the loans is owes to its lenders expires Friday, unless extended by the lenders. As a result, the company said it is exploring all alternatives including obtaining replacement equity funding in order to complete its confirmed plan, a sale of all or portions of its operations and liquidation. Last week, The Wall Street Journal reported that a judge approved FAO's bankruptcy-reorganization plan as the toy retailer completed a broader-than- expected round of store closures and secured $107 million in financing. The support package, secured more than two months after FAO filed for bankruptcy-court protection from creditors in late January, includes $30 million in stock financing from a group of investors led by the company's controlling shareholders. In addition to the stock financing, FAO secured a $67 million revolving-credit facility provided by a group of banks led by Fleet Retail Finance Inc. and a $10 million term loan from Back Bay Capital Funding LLC, another unit of FleetBoston Financial Corp. (NYSE:FBF - News) . -Jenny Park; Dow Jones Newswires; 201-938-5400 (Yolanda E. McBride contributed to this report.)