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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): July 19,2000
Today's Man, Inc.
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(Exact name of registrant as specified in its charter)
Pennsylvania 0-20234 23-1743137
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
835 Lancer Drive
Moorestown, New Jersey 08057
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(Address of principal executive
offices, including zip code)
856-235-5656
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Registrant's telephone number, including area code
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Item 5: Other Events.
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MOORESTOWN, New Jersey - July 19, 2000 -- Today's Man, Inc. (Nasdaq
National Market: TMAN, TMANW), today announced that the Company's Board of
Directors has exercised its option to cancel the previously announced 1-for-4
reverse stock split. The plan, which was announced on June 16, 2000, called for
the exchange of one share of common stock for every four shares of outstanding
common stock. The Board of Directors had reserved the right to abandon the plan
at any time prior to the shareholders vote at the Company's annual meeting on
July 20, 2000.
After analysis of the declining market valuation of the Company's stock
since the announcement, the Board of Directors determined that the planned
reverse split would be unlikely to increase the share price enough to satisfy
the $1.00 minimum bid price per share requirement of the Nasdaq National Market
beyond the near term. Because continued listing on the Nasdaq National Market
could not be assured for the foreseeable future, management believes that the
transaction would be unlikely to enhance shareholder value.
-1-
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TODAY'S MAN, INC.
By: /s/ Frank E. Johnson
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Frank E. Johnson, Executive Vice
President and Chief Financial Officer
Dated: July 19, 2000
