Big Dog Holdings Inc. Announces Initial Public Offering of 4 million Shares of Common Stock

Business Wire, Sept 26, 1997

SANTA BARBARA, Calif.--(BUSINESS WIRE)--Sept. 26, 1997--Big Dog Holdings Inc. (NASDAQ/NMS:BDOG) announced today that it made an initial public offering of 4 million shares of common stock at $14 per share.

Of the 4 million shares being offered, 2.8 million are being sold by Big Dogs. In addition, the company has granted the underwriters an option to purchase 600,000 shares to cover over-allotments, if any.

The total size of the offering, including the over-allotment option, is $64.4 million. The offering is being managed by Roberson, Stephens & Co., Hambrecht & Quist and Needham & Co. Inc.

Big Dogs develops, markets and retails a branded, lifestyle collection of unique, high-quality, popular-priced consumer products, inlcuding activewear, casual sportswear, accessories and gifts.

The company distributes BIG DOGS(R) brand products through its 138 retail stores and mail order catalog and through other channels including better department and specialty stores. Big Dogs employs over 1,000 people nationwide and in England.

A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission.

This press release shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Copies of the prospectus relating to the offering may be obtained from Robertson, Stephens & Co., 555 California St., Suite 2600, San Francisco, CA 94104, 415/781-9700; Hambrecht & Quist, One Bush St., San Francisco, CA 94104, 415/439-3300; or Needham & Co. Inc., 445 Park Ave., New York, NY 10022, 212/371-8300.

The information contained herein is not a complete analysis of every material fact respecting any company, industry or security.

Although opinions and estimates expressed herein reflect the current judgment of the Firm, the information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when they are, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice.

This news release contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from the results described in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in the "Investment Risks."

Robertson, Stephens & Company LLC from time to time performs corporate finance services for some companies described herein and may occasionally possess material, nonpublic information regarding such companies. This information is not used in the preparation of the opinions and estimates herein.

Facts and other information discussed have been obtained from sources considered reliable but are not guaranteed. Robertson, Stephens & Company LLC, its managing directors, its affiliates and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or sales while this press release is in circulation.

CONTACT: Big Dog Holdings Inc., Santa Barbara

Jonathan S. Howe, 805/963-8727