FOR IMMEDIATE RELEASE
Design Within Reach, Inc. Prices Secondary Public Offering of Common Stock
SAN FRANCISCO, CA - March 09, 2005 (BUSINESS WIRE) -- Design Within Reach, Inc. (NASDAQ:DWRI) announced today the pricing of its secondary public offering of 1,800,000 shares of its common stock at a price of $15.80 per share. Of the shares offered, 1,700,000 are being offered by certain selling stockholders and Design Within Reach, Inc. (the "Company") is offering 100,000 shares. Certain of the selling stockholders have granted to the underwriters a 30-day option to purchase up to an additional 270,000 shares at the secondary public offering price to cover over-allotments, if any. The principal purpose of the offering is to increase the Company's outstanding public float and reduce the overhang of stock held by its private investors and management.
The offering was made through an underwriting syndicate led by CIBC World Markets Corp., as the lead manager, and William Blair & Company, SG Cowen & Co. and Thomas Weisel Partners LLC, as co-managers.
Copies of the prospectus relating to the offering may be obtained from CIBC World Markets Corp., 300 Madison Avenue, New York, N.Y. 10017, by fax at 212-667-6136 or by e-mail at useprospectus@us.cibc.com.
About Design Within Reach, Inc.
Design Within Reach, Inc., founded in 1998 and headquartered in San Francisco, is an integrated multi-channel provider of distinctive modern design furnishings and accessories. The Company markets and sells its products to both residential and commercial customers nationwide through the DWR catalog, studios, website and direct sales force.
"Design Within Reach" is a registered trademark of Design Within Reach, Inc.
SOURCE: Design Within Reach, Inc.
Contact:
Design Within Reach, Inc.
Wayne Badovinus, 415-676-6500
or
Integrated Corporate Relations, Inc.
Andrew Greenebaum/Christine Lumpkins, 310-395-2215
agreenebaum@icr-online.com
clumpkins@icr-online.com