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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
JANUARY 7, 1997 (DECEMBER 20, 1996)
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Date of Report (Date of earliest event reported)
RENT-WAY, INC.
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(Exact name of registrant as specified in its charter)
PENNSYLVANIA 000-22026 25-1407782
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(State or other jurisdiction (Commission File Number) (IRS Employer
of corporation) Identification No.)
3230 WEST LAKE ROAD, ERIE, PENNSYLVANIA 16505
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(Address of principal executive offices) Zip Code
Registrant's telephone number, including area code: (814) 836-0618
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RENT-WAY, INC.
8-K, Continued
ITEM 5. Other Events
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The registrant issued the following press release on December 20, 1996:
RENT-WAY SIGNS A LETTER OF INTENT TO ACQUIRE 15-STORE CHAIN
Erie, PA, December 20, 1996 -- Rent-Way, Inc. (NASDAQ-RWAY), today announced it
signed a letter of intent to acquire a privately-owned 15 store rental-purchase
chain in Michigan with annual revenues of approximately $7.5 million. The
purchase price is approximately $6.5 million and no other terms or details of
the letter of intent were disclosed. Consummation of the transaction is subject
to the completion of due diligence and the preparation of a definitive purchase
agreement.
The acquisition would considerably strengthen Rent-Way's penetration in
Michigan from 7 to 22 stores, and is in line with the Company's expansion
strategy to cluster stores in selected markets.
Prior to this acquisition, Rent-Way operates a chain of 108 rental-purchase
stores located in Delaware, Florida, Illinois, Indiana, Maryland, Michigan, New
Jersey, New York, Ohio, Pennsylvania, Virginia and Washington, D.C. The Company
rents brand name durable household products such as home entertainment
equipment, furniture, and major appliances on a week-to-week or month-to-month
basis under full service rental-purchase agreements.
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.
RENT-WAY, INC.
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(Registrant)
Date 1/6/97 /s/ JEFFREY A. CONWAY
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(Signature)
JEFFREY A. CONWAY
CHIEF FINANCIAL OFFICER
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