Dreams Shareholders Approve Merger
06 Juni 2012 - 4:35PM
Business Wire
Dreams, Inc. (NYSE Amex: DRJ), a multi-channel
retailer focused on the licensed sports products industry, today
announced that, at a Special Meeting of shareholders held today,
its shareholders have voted to approve and adopt the Amended and
Restated Agreement and Plan of Merger dated April 13, 2012 among
the Company, Fanatics, Inc., a Delaware corporation (“Fanatics”),
and Sweet Tooth Acquisition Corp., a Delaware corporation and a
wholly owned subsidiary of Fanatics.
The Board of Directors of Dreams has authorized management
immediately to take all necessary steps to effectuate the merger,
which Dreams expects to become effective shortly after 4:00 pm
Eastern time today. Upon closing of the transaction, the Company
will become a wholly-owned subsidiary of Fanatics, the Company’s
common stock will no longer be listed on the NYSE Amex Equities
Exchange and the Company’s shareholders will be entitled to receive
$3.45 in cash for each share of the Company’s common stock.
About Fanatics, Inc.
Fanatics provides e-commerce, merchandising, marketing and
fulfillment services for professional sports leagues and teams,
collegiate athletic programs and conferences, and other major
sports properties. Offering broad assortments online consisting of
hundreds of thousands of officially licensed items, Fanatics
leverages both its large network of partners and its own collection
of proprietary brands to distribute goods to consumers all over the
world. www.fanatics.com.
About Dreams, Inc.
Dreams, Inc. (NYSE Amex: DRJ) is a technology driven,
multi-channel retailer focused on the sports licensed products
industry. For more information, please visit
www.DreamsCorp.com.
Forward Looking Statements
Statements contained in this press release, which are not
historical facts, are forward-looking statements. The
forward-looking statements in this press release are made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the company to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such statements are indicated by words or phrases such
as “anticipates,” “projects,” “management believes,” “Dreams
believes,” “intends,” “expects,” and similar words or phrases. Such
factors include, among others, the following: competition;
seasonality; success of operating initiatives; new product
development and introduction schedules; acceptance of new product
offerings; franchise sales; advertising and promotional efforts;
adverse publicity; expansion of the franchise chain; availability,
locations and terms of sites for franchise development; changes in
business strategy or development plans; availability and terms of
capital including the continuing availability of our credit
facility with PNC Bank or a similar facility with another financial
institution; labor and employee benefit costs; changes in
government regulations; and other factors particular to the
company.
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