Jamba, Inc. Secures $25 Million Line of Credit and Announces 2008 Annual Meeting of Stockholders
EMERYVILLE, Calif., Apr 22, 2008 (BUSINESS WIRE) -- Jamba, Inc. (NASDAQ:JMBA; NASDAQ:JMBAU; NASDAQ:JMBAW) has secured a $25 million line of credit with Wells Fargo Foothill, LLC. Jamba plans to use the funding as necessary to secure outstanding letters of credit and for seasonal working capital requirements. The term of the line of credit is 5 years.
Jamba will host its 2008 Annual Meeting of Stockholders at 1:00 p.m. PDT on Wednesday, May 28, 2008 in Berkeley, California at the DoubleTree Hotel and Executive Meeting Center, 200 Marina Boulevard, Berkeley, California 94710. Jamba stockholders of record at the close of business on April 11, 2008 will be entitled to notice of the annual meeting and to vote upon matters considered at the meeting. Attendance at the meeting will be limited to stockholders of record and beneficial owners who provide proof of beneficial ownership as of the record date (such as an account statement, a copy of the voting instruction card provided by a broker, bank, trustee, or nominee, or other similar evidence of ownership).
About Jamba, Inc.
Jamba, Inc. (NASDAQ:JMBA; NASDAQ:JMBAU; NASDAQ:JMBAW) is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA JUICE(R) stores. JAMBA JUICE(R) is the leading blender of fruit and other naturally healthy ingredients. Founded in 1990, Jamba strives to inspire and simplify healthy living for its customers and employees. As of the end of Fiscal Year 2007, JAMBA JUICE had 707 stores, of which 501 were company-owned and operated. For the nearest location or a complete menu including new All Fruit(TM) and Functional smoothies, please call: 1-866-4R-FRUIT or visit the JAMBA JUICE website at www.jamba.com. Look for Jamba's Ready-To-Drink Smoothies and Juicies in grocery stores in 2008.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements are statements that are not historical facts. Forward looking statements in this release include those concerning our expected use of the proceeds from the line of credit as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Such forward-looking statements, based upon the current beliefs and expectations of Jamba, Inc.'s management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: changing interpretations of generally accepted accounting principles; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which Jamba, Inc. is engaged; demand for the products and services that Jamba, Inc. provides, general economic conditions; geopolitical events and regulatory changes, as well as other relevant risks detailed in the Company's filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. The Company does not assume any obligation to update the information contained in this press release.
SOURCE: Jamba, Inc.