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Parlux

This article was originally published in The Rose Sheet

Executive Summary

Firm completes the acquisition of the worldwide marketing rights to the Fred Hayman Beverly Hills fragrances for $11 mil. in cash and long- and short-term notes, 500,000 shares of Parlux Fragrances common stock and stock options for an additional 100,000 shares, the company announces June 16. Parlux signed a letter of intent to purchase the rights to the scents earlier this month ("The Rose Sheet" June 13, In Brief). As a result of the sale, Fred Hayman now owns 15% of Parlux's stock
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