FILED PURSUANT TO 4245(C)
REGISTRATION NO. 333-42391
PROSPECTUS SUPPLEMENT NO. 1
(TO PROSPECTUS DATED APRIL 7, 1998)
EMPIRE OF CAROLINA, INC.
(A Delaware Corporation)
Common Stock ($.10 par value)
up to 27,250,000 shares
Series A Preferred Stock ($.01 par value)
up to 2,100,000 Preferred Shares
Common Stock Purchase Warrants
up to 10,200,000 shares
Empire of Carolina, Inc. filed a Prospectus on April 7, 1998 registering
up to 27,250,000 shares of Common Stock, 2,100,000 shares of Series A Preferred
Stock and 10,200,000 Common Stock Purchase Warrants. EMP Associates, LLC was
listed as a selling shareholder in that Prospectus. This Prospectus Supplement
is being filed to list the individual members of EMP Associates, LLC as
additional Selling Securityholders pursuant to the April 7, 1998 Prospectus.
This Prospectus Supplement supplements certain information contained in
the April 7 Prospectus. That Prospectus related to the offer and sale by the
Securityholders of securities including: (a) shares of Common Stock (namely, the
Series A Conversion Shares, the Warrant Shares and the Buddy L Shares), (b)
Shares of Series A Preferred Stock; and (c) Warrants.
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| This Prospectus Supplement is not complete without, and may not be |
| delivered or utilized except in connection with, the Prospectus dated |
| April 7, 1998, including any amendments or supplements thereto. |
| Capitalized terms used herein but not defined have the meanings assigned |
| to such terms in the Prospectus dated April 7, 1998. |
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The following table lists (a) the names of each of the members of EMP
Associates, LLC, who are being added to the Prospectus as Selling
Securityholders, (b) the Securities beneficially owned by each prior to the
Offering and (c) the number of Securities that may be offered for the account of
such Selling Securityholders under the Prospectus. The information contained in
the table assumes that no Securities have been sold since the date that the
members of EMP Associates, LLC provided this information to us.
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<TABLE>
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SELLING SECURITYHOLDERS SUPPLEMENT
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Securities Beneficially Owned
Selling Securityholder Prior to the Offering* Securities to Be Sold**
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<S> <C> <C>
Transactions and Financing, Inc.
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Common Stock 232,000 232,000
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Series A Preferred Stock 20,000 20,000
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Warrants 72,000 72,000
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Comefrombehind, Inc.
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Common Stock 23,200 23,200
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Series A Preferred Stock 2,000 2,000
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Warrants 7,200 7,200
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Charles Passerman
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Common Stock 29,000 29,000
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Series A Preferred Stock 2,500 2,500
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Warrants 9,000 9,000
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David Passerman
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Common Stock 29,000 29,000
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Series A Preferred Stock 2,500 2,500
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Warrants 9,000 9,000
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Steve Passerman
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Common Stock 29,000 29,000
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Series A Preferred Stock 2,500 2,500
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Warrants 9,000 9,000
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Roger Lipton
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Common Stock 5,070 5,070
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Series A Preferred Stock 0 0
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Warrants 5,070 5,070
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Mark Martino
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Common Stock 53,538 53,538
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Series A Preferred Stock 0 0
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Warrants 53,538 53,538
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SELLING SECURITYHOLDERS SUPPLEMENT
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Securities Beneficially Owned
Selling Securityholder Prior to the Offering* Securities to Be Sold**
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<S> <C> <C>
Sean Dalton
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Common Stock 62,645 62,645
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Series A Preferred Stock 0 0
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Warrants 62,645 62,645
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Maya Trust
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Common Stock 58,000 58,000
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Series A Preferred Stock 5,000 5,000
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Warrants 18,000 18,000
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David Gorman
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Common Stock 704 704
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Series A Preferred Stock 0 0
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Warrants 704 704
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Martin Vulliez
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Common Stock 15,000 15,000
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Series A Preferred Stock 0 0
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Warrants 15,000 15,000
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Medusa Capital S.A.
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Common Stock 232,000 232,000
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Series A Preferred Stock 20,000 20,000
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Warrants 72,000 72,000
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Edmund C. Monell, Jr.
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Common Stock 348,000 348,000
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Series A Preferred Stock 30,000 30,000
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Warrants 108,000 108,000
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Summit Capital Associates, Inc.
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Common Stock 389,031 389,031
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Series A Preferred Stock 7,500 7,500
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Warrants 329,031 329,031
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SELLING SECURITYHOLDERS SUPPLEMENT
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Securities Beneficially Owned
Selling Securityholder Prior to the Offering* Securities to Be Sold**
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<S> <C> <C>
Little Wing, LP
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Common Stock 373,210 232,000
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Series A Preferred Stock 35,690 20,000
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Warrants 87,690 72,000
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Steve Maritz
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Common Stock 232,000 232,000
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Series A Preferred Stock 20,000 20,000
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Warrants 72,000 72,000
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Robert R. Santangelo
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Common Stock 87,000 87,000
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Series A Preferred Stock 7,500 7,500
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Warrants 27,000 27,000
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Francis R. Santangelo
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Common Stock 87,000 87,000
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Series A Preferred Stock 7,500 7,500
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Warrants 27,000 27,000
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Nicky Borcea IRA R/O
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Common Stock 121,000 121,800
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Series A Preferred Stock 10,500 10,500
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Warrants 37,800 37,800
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F. Tyler Johnson
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Common Stock 58,000 58,000
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Series A Preferred Stock 5,000 5,000
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Warrants 18,000 18,000
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OTA Limited Partnership
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Common Stock 435,000 435,000
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Series A Preferred Stock 37,500 37,500
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Warrants 135,000 135,000
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<PAGE>
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SELLING SECURITYHOLDERS SUPPLEMENT
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Securities Beneficially Owned
Selling Securityholder Prior to the Offering* Securities to Be Sold**
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<S> <C> <C>
Jack L. Parker
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Common Stock 58,000 58,000
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Series A Preferred Stock 5,000 5,000
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Warrants 18,000 18,000
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Wendy Church
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Common Stock 87,000 87,000
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Series A Preferred Stock 7,500 7,500
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Warrants 27,000 27,000
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William A. Barnett, Jr.
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Common Stock 87,000 87,000
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Series A Preferred Stock 7,500 7,500
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Warrants 27,000 27,000
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Stephen Gravereaux
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Common Stock 58,000 58,000
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Series A Preferred Stock 5,000 5,000
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Warrants 18,000 18,000
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Howmedica Reynoldson
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Common Stock 58,000 58,000
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Series A Preferred Stock 5,000 5,000
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Warrants 18,000 18,000
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</TABLE>
The date of this Prospectus Supplement is November 17, 1998.
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