Quality goods retailer ShopKo Stores Inc announced that it intends to waive certain conditions to the consummation of its offer to purchase (the "Offer") any and all of the outstanding $100 million principal amount of 9-1/4 percent Senior Notes due 2022 (the "Notes") at the closing (the "Closing") of the merger transaction with SKO Acquisition Corp. (the "Merger").
In addition, ShopKo announced that it has extended the expiration date of the Offer.
ShopKo said it has been informed by the information agent that, as of 5:00 p.m., New York City time, on December 20, 2005, approximately $94.2 million in aggregate principal amount of Notes had been tendered in the Offer. This amount represents approximately 94.2 percent of the outstanding principal amount of the Notes.
ShopKo Stores Inc is a retailer of quality goods and services headquartered in Green Bay with stores located throughout the Midwest, Mountain and Pacific Northwest regions.
Retail formats include 140 ShopKo stores, providing quality name-brand merchandise, great values, pharmacy and optical services in mid-sized to larger cities; 223 Pamida stores, 116 of which contain pharmacies, bringing value and convenience close to home in small, rural communities;
And three ShopKo Express Rx stores, a new and convenient neighborhood drugstore concept. With more than $3.0 billion in annual sales, ShopKo Stores Inc is listed on the New York Stock Exchange under the symbol SKO.
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