|
|
|
|
Document Preview Stock Purchase Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Stock Purchase Agreement |
|||
|
Entities: |
||||
|
Date: |
2001 |
|||
|
Size: |
Preview shows 6KB of 218KB total |
|||
|
Price: |
$78 |
|||
|
ID: |
#1160502 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
STOCK PURCHASE AGREEMENT
This Stock Purchase Agreement (this "AGREEMENT") is made and entered into
as of the 28th day of December, 2000, by and among 99(cent)Only Stores, a
California corporation ("STOCKHOLDER"), Universal Deals, Inc., a California
corporation ("DEALS"), Universal Odd's-N-End's, Inc., a California corporation
("UNIVERSAL ONE," and with Deals, "BUYERS"), Universal International, Inc., a
Minnesota corporation ("UNIVERSAL"), and Odd's-N-End's, Inc., a Delaware
corporation ("ODD'S-N-END'S," and with Universal, the "COMPANIES," and with
Stockholder, the "SELLERS"), on the following terms and conditions:
R E C I T A L S
WHEREAS, the authorized capital stock of Universal consists of 1,000 shares
of Common Stock, no par value per share, of which 1,000 shares of Common Stock
are issued and outstanding;
WHEREAS, the authorized capital stock of Odd's-N-End's consists of 1,000
shares of Common Stock, $0.10 par value per share, of which 1,000 shares of
common stock are issued and outstanding;
WHEREAS, Stockholder owns, in the aggregate, beneficially and of record,
1,000 shares of Universal Common Stock and 1,000 shares of Odd's-N-End's Common
Stock, which represent 100% of the total issued and outstanding shares of common
stock of Universal and Odd's-N-End's;
WHEREAS, subject to the terms and conditions set forth in this Agreement,
Deals desires to purchase and acquire from Stockholder, and Stockholder desires
to sell and transfer to Deals (the "UNIVERSAL ACQUISITION"), all 1,000 shares of
Universal Common Stock owned by Stockholder, (the "UNIVERSAL SHARES"); and
WHEREAS, subject to the terms and conditions set forth in this Agreement,
Universal ONE desires to purchase and acquire from Stockholder, and Stockholder
desires to sell and transfer to Universal ONE (the "ONE ACQUISITION," and with
the Universal Acquisition, the "ACQUISITION"), all 1,000 shares of Odd's-N-End's
Common Stock owned by Stockholder, (the "ONE SHARES," and with the Universal
Shares, the "SHARES").
NOW, THEREFORE, in consideration of the premises and the mutual promises
herein made, and in consideration of the representations, warranties and
covenants herein contained, the parties hereby agree as follows:
1. PURCHASE AND SALE OF SHARES.
1.1 On the terms and subject to the conditions set forth in this
Agreement, at the Closing (as defined below), Stockholder agrees to sell,
transfer and deliver to Buyers, and Buyers agree to purchase and acquire from
Stockholder, the Shares, free and clear of any mortgage, lien, security
interest, charge, hypothecation, pledge, adverse claim, encumbrance or
restriction of any kind or nature whatsoever ("LIEN"). Immediately following the
consummation of the transactions contemplated
<PAGE>
hereby, and effective as of September 30, 2000 (the "EFFECTIVE DATE"), Deals and
Universal ONE will own beneficially and of record 100% of the issued and
outstanding shares of common stock of Universal and Odd's-N-End's, respectively.
1.2 The Shares shall be purchased by Buyers from Stockholder for an
aggregate purchase price of $33,909,445 (the "PURCHASE PRICE"), in cash payable
to Stockholder as follows: (i) $5,000,000, which was delivered to Stockholder
upon the execution of that certain Letter of Intent, dated as of November 8,
2000, as amended; and (ii) $28,909,445 to be paid to Stockholder on the Closing
Date (as defined below) by delivery of cashiers check or by wire transfer.
2. THE CLOSING. The closing (the "Closing") of the purchase and sale of the
Shares shall take place at 10:00 a.m. (Pacific Standard Time) on December 28,
2000, or on such other date or at such other time as the parties hereto agree
but in no event later than December 29, 2000 (the "Closing Date"). The Closing
shall take place at the offices of Sellers' counsel via facsimile, with hard
copy originals of executed closing documents to be exchanged via overnight mail
or other method as agreed to by the parties.
3. DELIVERIES AT THE CLOSING. At the Closing, (i) Stockholder shall deliver
to Buyers the various certificates, instruments and documents referred to in
SECTION 7 below, (ii) Buyers shall deliver to Stockholder the various
instruments and documents referred to in SECTION 8 below, (iii) Stockholder
shall deliver to Buyers stock certificates representing the Shares to be sold
hereunder (or lost certificate affidavits therefore) duly endorsed in blank or
accompanied by duly executed assignment documents, and (iv) Buyers shall pay to
Stockholder that portion of the Purchase Price due at Closing as set forth in
SECTION 1.2 above.
4. REPRESENTATIONS AND WARRANTIES OF THE COMPANIES AND STOCKHOLDER.
4.1 THE COMPANIES AND STOCKHOLDER. The Companies and Stockholder
jointly and severally represent and warrant to Buyers as follows except as set
forth in the disclosure schedule attached hereto (the "DISCLOSURE SCHEDULE"):
4.1.1 ORGANIZATION, STANDING AND CORPORATE POWER. Universal and
Odd's-N-End's are corporations duly organized, validly existing and in corporate
and tax good standing under the laws of the States of Minnesota and Delaware,
|
End of Preview |
Home Intelligence Services Subscriptions News About Us