Attacks Might Delay Kid Stuff Equity Credit Application

Share this article:
Kids Stuff Inc., which publishes catalogs Perfectly Safe, Jeannie's Kids Club and The Natural Baby Catalog, may have its application for equity funding delayed as a result of last week's terrorist attack.


The North Canton, OH, company registered 14.5 million common shares as part of the funding process. This was part of an Aug. 31 filing with the Securities and Exchange Commission. The application is in process and could be delayed by the attacks.


The company announced "a major step in the completion" of its equity line of credit on Sept. 10. The equity line, entered into June 20 with Cornell Capital Partners, New York, is to provide the company with $3 million, letting Kids Stuff periodically issue and sell shares of its common stock, depending upon the volume of shares traded and the price per share.


On Sept. 11, Cornell Capital Partners' offices at One World Trade Center were destroyed.


Kids Stuff has been advised that the Cornell Capital Partners staff survived and that the company is establishing new offices.


Kids Stuff reported that the delay in the company's overall funding plans is unknown, but there will be no delay by Cornell Capital Partners resulting from the Sept. 11 attack.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Wine.com Uncorks New Digital Marketing Opportunities

Wine.com Uncorks New Digital Marketing Opportunities

The online wine retailer's strategy incorporates different flavors and depths.

93% of Companies Are Ineffective at Cross-Channel Marketing

93% of Companies Are Ineffective at Cross-Channel Marketing ...

Companies point to a lack of resources as the most common reason for lackluster marketing integration, a study says.

Metal Mulisha Races Towards Customization

Metal Mulisha Races Towards Customization

The motocross apparel company boosts mobile and Web conversions through product recommendations and personalized search.