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Post# of 76351
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tomtomboombang

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tomtomboombang

Re: None

Wednesday, 03/01/2006 1:12:05 PM

Wednesday, March 01, 2006 1:12:05 PM

Post# of 76351
Golf Galaxy expects the acquiring of The GolfWorks (GGXY) to be neutral to EPS in FY07 and accretive to EPS beginning in FY08.

The Company said its agreement to purchase The GolfWorks is expected to close in early March.

The purchase price, is subject to customary closing adjustments, and consists of a combination of approximately $4 mln in cash. GGXY common stock valued at approximately $4.5 mln; and Golf Galaxy's warrants to purchase 150,000 shares of GGXY common stock is valued at approximately $1.5 mln. In addition to the above, GGXY will assume approximately $5 mln in debt from The GolfWorks.


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