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UNITED STATES
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
July 22, 1998 (July 21, 1998)
Date of Report (Date of earliest event reported)
Rent-Way, Inc.
(Exact name of registrant as specified in its charter)
Pennsylvania 000-22026 25-1407782
(State or other jurisdiction) (Commission File Number) (IRS Employer
of corporation) Identification No.)
3230 West Lake Road, Erie, Pennsylvania 16505
(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
The registrant issued the following press release on July 21, 1998:
ERIE, PA., July 21, 1998, Rent-Way, Inc. (Nasdaq: RWAY) today announced that it
has acquired all the outstanding stock of Fast Rentals, Inc., a privately-held
rental-purchase chain with six stores in Alabama and two stores in Georgia. Fast
Rentals had annualized revenues of approximately $3.6 million. The purchase
price of the acquisition was approximately $2,860,000 million, including
assumption of liabilities. Through the Fast Rentals transaction, Rent-Way, Inc.
adds additional stores in the growing rent-to-own market of the Southeast United
States.
Rent-Way, Inc. operates 384 rental-purchase stores located in 21 states,
primarily in the Southeast and Eastern United States. 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.
(Registrant)
Date July 22, 1998
/s/ Jeffrey A. Conway
(Signature)
Jeffrey A. Conway
Chief Financial Officer
