PALM BEACH GARDENS, Fla. (Monday, April 12, 8:35 a.m.)¿Minotaur CapitalInc. said on Monday it had increased its tender offer for snowboardmaker Ride Inc. to $2.25 per share from $1.25.
Shares of Ride, which makes sporting equipment and apparel as well assnowboards and wakeboards, closed at $1.375 on Friday.
Minotaur announced its original tender offer on April 6.
Minotaur urged investors to review its Securities and ExchangeCommission filings about the tender offer before making any investmentdecision.
In last week’s announcement, Minotaur noted that Ride had about $43million in assets and $21 million in shareholder equity at the end of1998. For the six months ended in December, Ride had $34.5 million insales and net income of $2.39 million, or $0.14 per diluted share, basedon 16.6 million diluted shares outstanding.
