GF Acquisition extends stock purchase offer for Goody's Family Clothing
14 Dec '05
3 min read
If, following the later hearing, less than $1,000,000 in attorneys' fees are awarded to plaintiffs' counsel, an additional payment to Goody's' shareholders and optionholders will be made in an amount per share (including options to acquire Goody's' shares with an exercise price of less than $9.60 per share) equal to (x) the difference between $1,000,000 and the amount of attorneys' fees so awarded divided by (y) the number of Goody's' shares outstanding plus the number of shares sizeable upon exercise of options with an exercise price of less than $9.60 per share.
Additional information may be found in an amendment to the Tender Offer Statement on Schedule TO, which will be filed by GF Acquisition Corp and the other bidders named therein with the Securities and Exchange Commission.
Goody's, headquartered in Knoxville, Tennessee, is a retailer of moderately priced family apparel, and, with the closing of one store in Gainesville, Florida on November 26, 2005, currently operates 381 stores (compared with 359 stores at November 27, 2004).
GF Acquisition Corp, a Tennessee corporation, is a wholly owned subsidiary of Goody's Holdings, Inc., a Delaware corporation. GF Acquisition Corp and Goody's Holdings Inc were formed for the purpose of entering into a business combination transaction with Goody's and have not carried on any activities other than in connection with the tender offer.
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