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American Apparel begins public offering of $30.5mn shares

March 26, 2014 (United States Of America)

American Apparel, Inc. announced that it has commenced an underwritten public offering of $30,500,000 of shares of its common stock.
 
The Company intends to use the net proceeds of the offering to fund working capital and for general corporate purposes, including its April 2014 cash interest payment on the Company's senior secured notes. 
 
The Company intends to grant the underwriters a 30-day option to purchase up to $4,575,000 of additional shares of its common stock to cover over-allotments, if any. The Company's common stock is listed on the NYSE MKT under the symbol "APP." 
 
Roth Capital Partners is acting as sole book-running manager and Brean Capital is acting as co-manager for the offering. 
 

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