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Article: Chain updates its IPO. (West Coast Entertainment Inc.; initial public offering)
- Article from:
- Video Business
- Article date:
- March 29, 1996
- Author:
CopyrightCOPYRIGHT 1996 Reed Business Information, Inc. (US). 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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Credit line tied to West Coast offer
A new $60 million credit line and an arbitration case involving a Game Power Headquarters franchisee are among the latest developments at West Coast Entertainment.
West Coast, which is in the process of going public, is looking to raise at least $75 million through an initial public offering (IPO) of 5.4 million shares (VB, 1/26). Proceeds will be used to buy 171 stores. As a result, West Coast will grow to 199 corporate and 305 franchised sites.
In an amended registration statement filed this month, West Coast said it must complete the IPO in order to receive the new five-year credit facility from PNC Bank. Maximum ...