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AFL PANTHERS' MERIS HOPES FOR A HOME RUN IN IPO TODAY
Published December 11, 1997
The AFL Orlando Panthers will float an IPO today that "could more than triple" the value of the owners' interest in the team, according to Barry Flynn of the ORLANDO SENTINEL. Through the IPO, underwritten by WI-based First Midwest Securities, the ownership group headed by AZ-based William Meris hopes to raise "as much as" $5.6M by selling 40% of Predators Entertainment. Meris' group purchased the team in February for $2.3M. At the expected offering price of two shares of common stock and one warrant at $10, the 60% retained by the ownership group after today's IPO would be worth $8.4M (ORLANDO SENTINEL, 12/11).