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EXHIBIT 99(a)(5)(C)
For Further Information:
BIG DOG HOLDINGS, INC.
121 Gray Avenue
Santa Barbara, California 93101
www.bigdogs.com
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CONTACT:
Investor Information
(805) 963-8727 x 1630
[email protected]
For Immediate Release:
August 30, 2000
BIG DOG HOLDINGS, INC.
ANNOUNCES PRELIMINARY RESULTS OF $6.25 PER SHARE
CASH TENDER OFFER FOR 3.5 MILLION SHARES
SANTA BARBARA, CALIFORNIA--Big Dog Holdings, Inc. (Nasdaq: BDOG;
www.bigdogs.com) today announced the completion of its previously announced
cash tender offer to purchase 3,500,000 of its common shares at a price per
share of $6.25. The cash tender offer expired at 9:00 a.m. Pacific time on
August 30, 2000, at which time trading was halted for the remainder of the
trading day. Trading will resume on Thursday, August 31, 2000.
Approximately 6,944,011 common shares were tendered pursuant to the offer, of
which approximately 47,876 were tendered pursuant to notices of guaranteed
delivery. Based on such preliminary results, the offer is oversubscribed and
a proration factor of approximately 50.4 percent for the tendered shares will
be applied. The estimated proration factor is subject to change. The Company
expects to announce the final proration factor on Wednesday, September 6,
2000. A when-distributed market has been set up on the NASDAQ National Market
under the trading symbol BDOGV to facilitate trading in the prorated shares.
As of August 30, 2000, the Company had approximately 11,983,450 common shares
outstanding. As a result of the completion of the cash tender offer, the
Company expects to have approximately 8,483,450 common shares outstanding as
of the time immediately following payment for the tendered shares accepted
for payment.
Big Dogs develops, markets and retails a branded, lifestyle collection of
unique, high-quality, popular-priced consumer products, including activewear,
casual sportswear, accessories and gifts. The BIG DOGS brand image is one of
quality, fun and a sense of humor. The BIG DOGS brand is designed to appeal
to people of all ages and demographics, particularly baby boomers and their
kids, big and tall customers, and pet owners. In addition to its 198 retail
stores, Big Dogs markets its products through its catalog, better wholesale
accounts and Internet sales.
Safe Harbor Statement Under the Private Securities Litigation Reform Act 1995:
With the exception of historical information, the matters discussed in this news
release are forward-looking statements that involve a number of risks and
uncertainties. The actual future results of the company could differ
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significantly from those statements. Further information on the company's risk
factors is contained in the company's filings with the Securities and Exchange
Commission.
