Glendon Group Acquires Bidz.com, Inc.
28 September 2012 - 10:00PM
On September 27, 2012, Bidz.com, Inc. (Nasdaq:BIDZ), a leading
online retailer of jewelry, was acquired by Glendon Group, Inc.
("Glendon Group") through a merger of Bidz.com into a subsidiary of
Glendon Group pursuant to a previously announced merger agreement.
At Bidz.com's annual meeting that was held on September 27,
2012, the merger agreement was approved by holders of a majority of
the outstanding Bidz.com shares as well as by holders of a majority
of the outstanding Bidz.com shares that are held by unaffiliated
stockholders.
As a result of the merger, Bidz.com is a privately held company
and its stock no longer trades on the Nasdaq Capital Market.
About Bidz.com
Bidz.com, founded in 1998, is a leading online retailer of
jewelry. Bidz offers its products through a live auction format as
well as a fixed price online retail store, Buyz.com. Bidz also
operates Modnique.com, a division of Bidz.com, a flash sale
shopping website, offering authentic premium brand name
merchandise. Modnique offers its members exclusive access to 24-72
hour sales events on designer apparel, accessories, shoes, and
housewares and much more at price points up to 85% below
traditional retail prices.
CONTACT: Bidz.com, Inc.
Tawnia Suggs Specialist
Investor Relations
tsuggs@bidz.com
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