Collegiate Pacific Successfully Completes Sport Supply Group Inc. Transaction
13 Novembro 2006 - 12:30PM
Business Wire
Collegiate Pacific Inc. (AMEX:BOO) today announced it had
successfully completed its acquisition of the remaining shares of
Sport Supply Group Inc. ("SSPY") that it did not already own for
approximately $24 Million in cash. Under the terms of the September
21, 2006 definitive merger agreement, SSPY stockholders will
receive $8.80 in cash for each share of SSPY common stock. The
company financed the merger through borrowings under its new credit
facility with Merrill Lynch Business Financial Services, Inc.
Additional information regarding the transaction and future plans
will be discussed on the Q107 Earnings conference call this
afternoon at 3:30 PM CST. Collegiate Pacific is the nation's
fastest growing manufacturer and supplier of sports equipment
primarily to the institutional and team dealer markets. The Company
offers more than 4,500 products to 300,000 prospective and existing
customers. The Company distributes approximately 3.0 million
catalogs annually and employs approximately 200 professional road
salesmen including those associated with the Sport Supply Group
platform. This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements include statements
relating to Collegiate Pacific's anticipated financial performance,
business prospects, new developments and similar matters, and/or
statements preceded by, followed by or that include the words
"believes," "could," "expects," "anticipates," "estimates,"
"intends," "plans," or similar expressions. These forward-looking
statements are based on management's current expectations and
assumptions, which are inherently subject to uncertainties, risks
and changes in circumstances that are difficult to predict. Actual
results may differ materially from those suggested by the
forward-looking statements due to a variety of factors, including
changes in business, political, and economic conditions due to the
threat of future terrorist activity or otherwise, actions and
initiatives by current and potential competitors, and certain other
additional factors described in Collegiate Pacific's filings with
the Securities and Exchange Commission. Other unknown or
unpredictable factors also could have material adverse effects on
Collegiate Pacific's future results, performance or achievements.
In light of these risks, uncertainties, assumptions and factors,
the forward-looking events discussed in this press release may not
occur. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date stated,
or if no date is stated, as of the date of this press release.
Collegiate Pacific is not under any obligation and does not intend
to make publicly available any update or other revisions to any of
the forward-looking statements contained in this press release to
reflect circumstances existing after the date of this press release
or to reflect the occurrence of future events even if experience or
future events make it clear that any expected results expressed or
implied by those forward-looking statements will not be realized.
Collegiate Pacific Inc. (AMEX:BOO) today announced it had
successfully completed its acquisition of the remaining shares of
Sport Supply Group Inc. ("SSPY") that it did not already own for
approximately $24 Million in cash. Under the terms of the September
21, 2006 definitive merger agreement, SSPY stockholders will
receive $8.80 in cash for each share of SSPY common stock. The
company financed the merger through borrowings under its new credit
facility with Merrill Lynch Business Financial Services, Inc.
Additional information regarding the transaction and future plans
will be discussed on the Q107 Earnings conference call this
afternoon at 3:30 PM CST. Collegiate Pacific is the nation's
fastest growing manufacturer and supplier of sports equipment
primarily to the institutional and team dealer markets. The Company
offers more than 4,500 products to 300,000 prospective and existing
customers. The Company distributes approximately 3.0 million
catalogs annually and employs approximately 200 professional road
salesmen including those associated with the Sport Supply Group
platform. This press release contains "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements include statements
relating to Collegiate Pacific's anticipated financial performance,
business prospects, new developments and similar matters, and/or
statements preceded by, followed by or that include the words
"believes," "could," "expects," "anticipates," "estimates,"
"intends," "plans," or similar expressions. These forward-looking
statements are based on management's current expectations and
assumptions, which are inherently subject to uncertainties, risks
and changes in circumstances that are difficult to predict. Actual
results may differ materially from those suggested by the
forward-looking statements due to a variety of factors, including
changes in business, political, and economic conditions due to the
threat of future terrorist activity or otherwise, actions and
initiatives by current and potential competitors, and certain other
additional factors described in Collegiate Pacific's filings with
the Securities and Exchange Commission. Other unknown or
unpredictable factors also could have material adverse effects on
Collegiate Pacific's future results, performance or achievements.
In light of these risks, uncertainties, assumptions and factors,
the forward-looking events discussed in this press release may not
occur. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date stated,
or if no date is stated, as of the date of this press release.
Collegiate Pacific is not under any obligation and does not intend
to make publicly available any update or other revisions to any of
the forward-looking statements contained in this press release to
reflect circumstances existing after the date of this press release
or to reflect the occurrence of future events even if experience or
future events make it clear that any expected results expressed or
implied by those forward-looking statements will not be realized.
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