Tully’s Coffee Corporation (“Tully’s Coffee” or the “Company”) announced today its intent to file a registration statement with the U.S. Securities and Exchange Commission (“SEC”) for a proposed underwritten public offering of its common stock. The filing of such a registration statement is subject to applicable economic and capital market conditions, and would be subject to review by the SEC. The company expects to file the registration statement before the end of April 2007.
Tully’s Coffee anticipates that gross proceeds from the offering will be approximately $50,000,000. Proceeds will fund expansion of the Company's retail and wholesale operations, working capital and general corporate purposes.
A registration statement relating to these securities has not yet been filed with the SEC. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.