MT. PROSPECT, Ill., March 6, 2000 (PRIMEZONE) - Salton, Inc. (NYSE:SFP), today announced that it has filed a shelf registration statement with the Securities and Exchange Commission (SEC). The statement calls for the sale of up to $100 million of debt, and/or equity securities. Proceeds from the offering, when and if offered, will be used primarily to pursue future growth opportunities via strategic alliances, and to fund the Company's working capital expenses, capital expenditures and any general corporate expenses. The manner and timing of any offering will depend on the Company's need for additional capital for these purposes.
Salton, Inc. is a leading domestic designer, marketer and distributor of a broad range of branded, high quality small appliances, tabletop products and personal care/time products. Its portfolio of well-recognized owned and licensed brand names includes Salton(r), Toastmaster(r), Maxim(r), Breadman(r), Juiceman(r), George Foreman Grills(r), White-Westinghouse(r), Farberware(r), Melitta(r), Block(r) China, Atlantis(r), Sasaki(r), Rejuvenique(r), and Ingraham(r).
Certain matters discussed in this news release are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. These factors include: the integration of Toastmaster, including the failure to realize anticipated revenue enhancements and cost savings; the Company's relationship and contractual arrangements with key customers, suppliers and licensors; the risks relating to pending legal proceedings; cancellation or reduction of orders; the timely development, introduction and customer acceptance of the Company's products; dependence on foreign suppliers and supply and manufacturing constraints; competitive products and pricing; economic conditions and the retail environment; the availability and success of future acquisitions; the Company's degree of leverage; the risks related to intellectual property rights; year 2000 issues and other risks and uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings.
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