New Issue: Dreams to sell $2 million of common shares through private placement

By Devika Patel

Knoxville, Tenn., May 24 - Dreams, Inc. arranged a $2 million private placement of stock on May 18, according to an 8-K filed Monday with the Securities and Exchange Commission.

The company will sell 1,428,570 common shares.

Investors also received three-year warrants for 285,714 shares, which are each exercisable at $1.80.

Dreams is a sports memorabilia and licensed product company based in Ft. Lauderdale, Fla.

Issuer:	Dreams, Inc.
Issue:	Common stock
Amount:	$2 million
Shares:	1,428,570
Warrants:	For 285,714 shares
Warrant expiration:	Three years
Warrant strike price:	$1.80
Settlement date:	May 18
Stock symbol:	AMEX: DRJ
Stock price:	$1.66 at close May 18

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