| Announcements
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Successories, Inc. Agrees To Public-To-Private Transaction 2.13.03
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Successories, Inc. (OTCBB: SCES) annnounced today that it has entered into a definitive merger agreement with S.I. Acquisition LLC, a company controlled by Jack Miller, Successories' chairman; members of his family; and Howard I. Bernstein, a board member of Successories. The merger agreement provides that, at the closing of the merger, each outstanding share of Successories' common stock will be converted into the right to receive $.30, and each outstanding share of Successories' series B convertible preferred stock will be converted into the right to receive $15.00 plus all accrued and unpaid dividends in cash. As a result of the merger, Successories, Inc. will become a wholly owned subsidiary of S.I. Acquisition LLC in a public-to-private transaction. The closing of the merger is subject to various conditions, including shareholder approval.
Duff & Phelps, LLC initiated the transaction and served as exclusive financial advisor to Successories, Inc.
Headquartered in Aurora, Illinois, Successories, Inc. designs, manufactures, and markets a diverse range of motivational and self-improvement products for business and personal motivation. The Company's products are sold through the millions of catalogs it mails each year and currently through 21 franchise stores and 2 joint venture store operations. Additionally, products may be purchased online via the Company's website at www.successories.com
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