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American Apparel prices public offering at $0.50/share
27
Mar '14
American Apparel, Inc. announced that it priced an underwritten public offering of 61,000,000 shares of its common stock at a price to the public of $0.50 per share.
 
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 granted to the underwriters a 30-day option to purchase up to 9,150,000 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." The offering is expected to close on or about March 31, 2014, subject to customary closing conditions. 
 
Roth Capital Partners is acting as sole book-running manager, and Brean Capital and National Securities Corporation, a wholly-owned subsidiary of National Holdings, Inc. (NHLD), are acting as co-managers for the offering.
 

American Apparel


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