Sunrise, FL (PRWEB) August 18, 2008
Perfumania Holdings, Inc. (Nasdaq:PERF) (formerly, E Com Ventures, Inc.) announced last Monday that it has completed the acquisition of Model Reorg, Inc. (“Model”), a diversified U.S. wholesale and retail designer perfume and fragrance company.

Model, which was controlled by the loved ones of Glenn and Stephen Nussdorf, principal shareholders of the Firm, was merged into a wholly-owned subsidiary of the Organization. The Model shareholders received five,900,000 shares of Perfumania Holdings, Inc. frequent stock and warrants to acquire an extra 1,500,000 shares at an exercising value of $ 23.94. 
In connection with the merger, the Organization also consummated a senior credit facility with Basic Electric Capital Corporation in the aggregate quantity of up to $ 250,000,000, obtained a subordinated loan from Nussdorf loved ones trusts of approximately $ 55 million, and agreed to a modification of existing debt owed by Model to an affiliate. 
“We are really excited about the possibilities and prospects afforded by the merger of Model and E Com,” stated Michael W. Katz, President and Chief Executive Officer of E Com and Model. “The merger will allow us to pursue future growth strategies, take benefit of the synergies amongst the two firms, and position ourselves as a big, independent, national, vertically integrated specialty retailer and wholesale distributor of designer perfumes and fragrances.”

Forward-Seeking Statements

This press release includes forward-looking info about the anticipated effects of the merger with Model that are “forward-searching statements” within the which means of the Private Securities Litigation Reform Act of 1995. Those forward-searching statements involve recognized and unknown risks, uncertainties and other aspects that might result in our actual final results, overall performance or achievements of these of our market to be materially various from any future final results, performance or achievements expressed or implied by those forward-hunting statements. Amongst the aspects that could trigger actual results, overall performance or achievement to differ materially from those described or implied in the forward-hunting statements are our capacity to integrate and accomplish synergies amongst ourselves and Model, our potential to service our obligations under the new borrowing facilities, our ability to comply with the covenants in our new senior credit facility, general economic situations, competition, possible technologies changes, adjustments in or the lack of anticipated alterations in the regulatory environment in a variety of nations, our ability to safe partnership or joint-venture relationships with other entities, our capacity to raise added capital to finance expansion, the risks inherent in new item introductions and entry into new geographic markets and other risks and uncertainties described in our filings with the SEC. The Organization undertakes no obligation to publicly update any forward-looking statements, regardless of whether as a outcome of new details, future events or otherwise.

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