Home / Knowledge / News / Apparel/Garments / RYU raises $2,974,500 in equity financing
RYU raises $2,974,500 in equity financing
22
Jun '11
Respect Your Universe is pleased to announce it has raised $2,974,500 in equity financing. For the investment, RYU issued 4,957,500 shares of restricted common stock and two year warrants to purchase another 4,957,500 shares of restricted common stock at an exercise price of $1.80 per share. If all of the investor warrants are exercised, RYU will receive an additional $8,923,500 in financing.

With this investment, RYU is commencing full operations in the development and distribution of its MMA inspired apparel and merchandise. RYU commenced the offering on Friday, June 17, with intentions to raise only $2,500,000, but within days the interest and demand in the offering was so substantial the Company was able to raise an addition $474,500 and close the offering.

Chief Operating Officer Erick Siffert stated, "We are very excited about having the opportunity to move RYU forward into the marketplace and share our visions and ideas with athletes and consumers who want to wear premium performance athletic gear. I want to thank our investment partners for their trust and belief in what RYU stands for and the global opportunity it represents."

Chief Financial Officer Steve Eklund said of the financing, "Securing the financing is the last piece to the puzzle and being able to close the financing so quickly not only shows the market interest in RYU, but frees up management to pursue our business plan. Great brand positioning, great team, great product, and now great financial partners help to establish RYU as the authentic performance brand for MMA athletes. Thanks to all of our partners who trusted our vision and respected our ability to execute the business plan. Together we will win."

Respect Your Universe

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X