Foamex Readies To Offer More Stock to Shareholders

Linwood, PA, June 16, 2008--Foamex International Inc. set June 20 as its record date for a stock rights offering it announced in March.

The financially troubled company had said it would allow shareholders to purchase common stock at $1.50 a share with the hope of raising $80 million to help it get out of debt.

However, shares have since dropped to $0.55 cents a share.

The company said it would allow each shareholder to buy 7.132 shares for every share owned at a 65 cents a share, with the sale commencing on June 23.

Holders of second liens can also purchase shares at the same price at the same time.

The company did not say how much money it now expects to raise through the offering.