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
December 22, 2000
Date of Report
Rent-Way, Inc.
(Exact name of registrant as specified in its charter)
Pennsylvania 000-22026 25-1407782
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(State or other (Commission File Number) (IRS Employer
jurisdiction of corporation) Identification No.)
One RentWay Place, Erie, Pennsylvania 16505
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(Address of principal executive offices) Zip Code
Registrant's telephone number, including area code: (814) 455-5378
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Item 5. Other Events
RENT-WAY'S OFFICERS AND DIRECTORS TO PURCHASE SHARES IN OPEN MARKET
December 20, 2000 - Erie, Pennsylvania. Rent-Way, Inc. (NYSE-RWY) today
announced that several of its executive officers and directors have advised that
they intend to begin purchasing shares of common stock of the company in the
open market. The timing and amount of these purchases will be determined by the
officers and directors. However, no purchases will be made prior to December 26,
2000, nor will any purchases occur during any period when the existence of
material, non-public information regarding the company makes those purchases
inappropriate. Rent-Way's common stock closed yesterday at $2.75 per share, down
approximately 89% from its closing price on October 27, 2000, the last trading
day prior to the company's announcement of its accounting investigation, and
down approximately 91% from its 52-week high.
Rent-Way is the second-largest operator of rental-purchase stores in the United
States. Rent-Way rents quality name-brand merchandise such as home entertainment
equipment, computers, furniture and appliances from 1,142 stores in 42 states.
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SIGNATURES
Pursuant to the requirements of the Securities and 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)
December 22, 2000 /s/William E. Morgenstern
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Date (Signature)
William E. Morgenstern
Chairman and Chief Executive Officer
December 22, 2000 /s/ William A. McDonnell
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Date (Signature)
William A. McDonnell
Vice President and Chief Financial Officer
