Replies to post #323563 on ORIONS Money Stocks

[oldberkeley]

WTSL It can't just be the CEO firing/hiring thing, that was announced yesterday. T1 halt means more news coming.

I don't mean to alarm you if you own it, but usually the longer the wait the worse the news.

Best of luck.

[$oldier Hard]

WTSL will resume trading at 11:55 hrs.
The Wet Seal, Inc. Announces Intent to Conduct Rights Offering

FOOTHILL RANCH, Calif., Sep 03, 2014 (BUSINESS WIRE) -- The Wet Seal, Inc. (Nasdaq: WTSL), a leading specialty retailer to young women, today announced, subject to applicable regulatory approvals, that it intends to conduct a rights offering which will allow the Company to raise equity capital through the sale of shares of its Class A common stock to its stockholders. The Company currently anticipates that the size of the rights offering will be between $25 and $30 million.

In connection with the contemplated offering, the Company anticipates that it will distribute, at no charge, non-transferable subscription rights to its holders of common stock as of a record date which will be established in the future. The subscription rights will entitle the holders thereof to purchase common shares at a subscription ratio and at a cash subscription price which has yet to be determined. Additional terms of the rights will be announced at a later date.

The distribution of the rights and the commencement of the rights offering may occur only after a registration statement to be filed by the Company with the Securities and Exchange Commission ("SEC") becomes effective. The Company anticipates that it will commence the rights offering in the third or fourth quarter of the current fiscal year.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any offer, solicitation or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of the securities under the securities laws of such state or jurisdiction.