9 15 Jayark Jayark NNP 16 21 Corp. Corp. NNP 22 28 agreed agree VBD 29 31 to to TO 32 35 pay pay VB 36 37 $ $ $ 37 38 4 4 CD 39 46 million million CD 47 49 in in IN 50 54 cash cash NN 54 55 , , , 56 57 $ $ $ 57 58 2 2 CD 59 66 million million CD 67 69 of of IN 70 72 12 12 CD 72 73 % % NN 74 85 convertible convertible JJ 86 96 debentures debenture NNS 96 97 , , , 98 101 and and CC 102 105 1.6 1.6 CD 106 113 million million CD 114 120 common common JJ 121 127 shares share NNS 128 130 to to TO 131 138 acquire acquire VB 139 146 closely closely RB 147 151 held hold VBN 152 158 Kofcoh Kofcoh NNP 159 166 Imports Imports NNP 167 170 Inc Inc NNP 170 171 . . . 174 176 In in IN 177 193 over-the-counter over-the-counter JJ 194 201 trading trading NN 202 208 Friday Friday NNP 208 209 , , , 210 216 Jayark Jayark NNP 217 220 was be VBD 221 227 quoted quote VBN 228 230 at at IN 231 235 87.5 87.5 CD 236 241 cents cent NNS 242 245 bid bid NN 245 246 , , , 247 251 down down RB 252 258 15.625 15.625 CD 259 264 cents cent NNS 264 265 . . . 266 268 At at IN 269 272 the the DT 273 279 market market NN 280 285 price price NN 285 286 , , , 287 290 the the DT 291 302 transaction transaction NN 303 306 has have VBZ 307 308 a a DT 309 314 total total JJ 315 324 indicated indicate VBN 325 330 value value NN 331 333 of of IN 334 335 $ $ $ 335 338 7.4 7.4 CD 339 346 million million CD 346 347 . . . 350 356 Kofcoh Kofcoh NNP 357 359 is be VBZ 360 361 a a DT 362 365 New New NNP 366 370 York York NNP 371 378 holding hold VBG 379 386 company company NN 387 390 for for IN 391 398 Rosalco Rosalco NNP 399 403 Inc. Inc. NNP 403 404 , , , 405 410 which which WDT 411 418 imports import VBZ 419 428 furniture furniture NN 429 432 and and CC 433 438 other other JJ 439 444 items item NNS 444 445 . . . 446 451 David David NNP 452 454 L. L. NNP 455 462 Koffman Koffman NNP 462 463 , , , 464 473 president president NN 474 477 and and CC 478 483 chief chief JJ 484 493 executive executive JJ 494 501 officer officer NN 502 504 of of IN 505 511 Jayark Jayark NNP 511 512 , , , 513 518 holds hold VBZ 519 524 about about RB 525 527 40 40 CD 527 528 % % NN 529 531 of of IN 532 538 Kofcoh Kofcoh NNP 538 539 , , , 540 546 Jayark Jayark NNP 547 551 said say VBD 551 552 . . . 555 561 Jayark Jayark NNP 561 562 , , , 563 566 New New NNP 567 571 York York NNP 571 572 , , , 573 584 distributes distribute VBZ 585 588 and and CC 589 594 rents rent VBZ 595 607 audio-visual audio-visual JJ 608 617 equipment equipment NN 618 621 and and CC 622 628 prints print VBZ 629 640 promotional promotional JJ 641 644 ads ad NNS 645 648 for for IN 649 658 retailers retailer NNS 658 659 . . . 660 662 In in IN 663 666 the the DT 667 674 quarter quarter NN 675 680 ended end VBN 681 685 July July NNP 686 688 31 31 CD 688 689 , , , 690 696 Jayark Jayark NNP 697 700 had have VBD 701 703 an an DT 704 711 average average NN 712 714 of of IN 715 718 5.6 5.6 CD 719 726 million million CD 727 733 shares share NNS 734 745 outstanding outstanding JJ 745 746 . . . 749 752 The the DT 753 764 transaction transaction NN 765 767 is be VBZ 768 775 subject subject JJ 776 778 to to TO 779 787 approval approval NN 788 790 by by IN 791 792 a a DT 793 798 panel panel NN 799 801 of of IN 802 815 disinterested disinterested JJ 816 825 directors director NNS 825 826 , , , 827 830 the the DT 831 838 company company NN 839 843 said say VBD 843 844 , , , 845 851 adding add VBG 852 856 that that IN 857 868 shareholder shareholder NN 869 877 approval approval NN 878 880 is be VBZ 880 883 n’t n't RB 884 890 needed need VBN 890 891 . . .