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Article: Movie Star, Inc. Announces Expiration of Subscription Period for $20 Million Rights Offering.
- Article from:
- Business Wire
- Article date:
- January 17, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Movie Star, Inc. (AMEX:MSI) ("Movie Star") announced today that the $20 million rights offering launched on December 3, 2007 expired effective as of 5:00 p.m., Eastern time, on January 16, 2008. Based on preliminary results, Movie Star shareholders exercised basic and oversubscription rights to purchase a total of 1,504,945 shares of common stock at a subscription price of $1.76 per share, leaving a total of 9,858,691 shares of common stock to be purchased by Fursa Alternative Strategies, LLC ("Fursa") and certain funds and accounts affiliated with, managed by, or over which Fursa or any of its affiliates exercises investment authority, including, without ...