BIDZ.COM Merger Status Update
October 11 2012 - 7:00AM
As previously announced, on September 27, 2012, BIDZ.com, Inc.
(Nasdaq:BIDZ), a leading online retailer of jewelry, held its
annual meeting of stockholders. At the annual meeting, each
proposal presented at the annual meeting was approved by the
required vote of Bidz.com stockholders, including the adoption of
the merger agreement with Glendon Group, Inc. As previously
announced, each condition to Glendon Group's obligation to close
the merger has been satisfied.
On October 4, 2012, BIDZ announced that it had agreed to extend
the deadline for Glendon Group to close the merger until October
10, 2012.
As of the close of business on October 10, 2012, Glendon Group
has not closed the merger.
The Company has agreed to provide Glendon Group until the close
of business on Monday, October 15, 2012 to close the merger.
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
Investor Relations
tsuggs@bidz.com
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