Janex Stockholders to Sell 52% of Company to Futech
Three major shareholders of Janex International have agreed to sell controlling interest in the company to Phoenix-based Futech Interactive Products.
The Woodland Hills manufacturer of children’s products announced that the three would sell all of their Janex stock, amounting to 52% of the issued and outstanding common stock, to Futech for a combination of Futech preferred stock and promissory notes. The deal also involves the assumption by Futech of some liabilities.
No dollar amount was announced for the value of the sale.
The deal is expected to close by Oct. 30.
