UPDATE -- BIDZ.COM Stockholders Adopt Merger Agreement
REDONDO BEACH, Calif., Sept. 28, 2012 (GLOBE NEWSWIRE) -- Correction: An
earlier press release published today incorrectly reported that Bidz.com had
completed the previously announced merger with Glendon Group, Inc., and as a
result of the merger, Bidz.com is a privately held company and its stock no
longer trades on the NASDAQ Capital Market. However, until completion of the
merger, Bidz.com remains a public company and its stock continues to trade on
the NASDAQ Capital Market.
On September 27, 2012, BIDZ.com, Inc. (Nasdaq:BIDZ), a leading online retailer
of jewelry, held its annual meeting of stockholders. At the annual meeting,
each proposal presented at the annual meeting was approved by the required
vote of Bidz.com stockholders, including the adoption of the merger agreement
with Glendon Group, Inc.
Each of Glendon Group's conditions to closing the merger has now been
satisfied. Under the merger agreement, Glendon Group is required to complete
the merger on or before October 1, 2012.
Bidz.com, founded in 1998, is a leading online retailer of jewelry. Bidz
offers its products through a live auction format as well as a fixed price
online retail store, Buyz.com. Bidz also operates Modnique.com, a division of
Bidz.com, a flash sale shopping website, offering authentic premium brand name
merchandise. Modnique offers its members exclusive access to 24-72 hour sales
events on designer apparel, accessories, shoes, and housewares and much more
at price points up to 85% below traditional retail prices.
CONTACT: Bidz.com, Inc.
Tawnia Suggs Specialist
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