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The Industrial Calendar of Events The Industrial Classifieds (8-20-96) Have you subscribed to SOL Groove? |
Vans Completes Public Offering Of 2.8 Million Shares |
PR: Ride, Inc. Responds To Disparagements Spread By Switch PR: Morrow's First Quarter 1996 Reports |
| ORANGE, Calif. May 22, 1996--Vans, Inc. (Nasdaq:VANS) today announced
that it has completed a public offering of 2,800,000 shares of the Company's
common stock at a price of $19.00 per share. Of the shares being sold, 2,700,000
shares are being sold by the Company, and 100,000 shares are being sold by
a selling stockholder.
The underwriting was managed by Donaldson, Lufkin & Jenrette Securities Corporation, Montgomery Securities and Robertson, Stephens & Company. Vans, Inc. is a leading designer, manufacturer and distributor of a collection of high quality casual and active-casual footwear, as well as performance footwear for enthusiasts of outdoor sports such as skateboarding, snowboarding and BMX bicycling. The Company markets its broad footwear line worldwide to a target customer base of 12 to 24 year old young men and women and distributes its product line through a network of independent and national retailers, international distributors for 65 countries, and 83 Company-owned stores and factory outlets. The Company sources its footwear from third party foreign manufacturers and the Company's own 90,000 square foot manufacturing facility in Vista, California. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such State. Copies of the Prospectus relating to the offering may be obtained from Donaldson, Lufkin & Jenrette Securities Corporation, 277 Park Avenue, New York, NY, 10172. CONTACT: VANS, INC. Craig E. Gosselin, 714/974-7414, ext. 473 or Morgen-Walke Associates David Walke/Eileen Howard Stacey Herschaft, 212/850-5600 Press: Miriam Adler, 415/296-7383 |
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