Glendon Group Acquires BIDZ.com, Inc.
REDONDO BEACH, Calif., Nov. 26, 2012 (GLOBE NEWSWIRE) -- On November 26, 2012
BIDZ.com, Inc., a leading online retailer of jewelry, was acquired by Glendon
Group, Inc. ("Glendon Group") through a merger of Bidz.com into a subsidiary
of Glendon Group pursuant to a previously announced merger agreement.
At Bidz.com's annual meeting that was held on September 27, 2012, the merger
agreement was approved by holders of a majority of the outstanding Bidz.com
shares as well as by holders of a majority of the outstanding Bidz.com shares
that are held by unaffiliated stockholders.
As a result of the merger, Bidz.com is a privately held company and its stock
will no longer trade on the OTCQB Marketplace.
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.
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