Home / Knowledge / News / Apparel/Garments / Cache commences $15mn rights offering on May 9
Cache commences $15mn rights offering on May 9
10
May '14
Cache, Inc., a specialty chain of women’s apparel stores, announced that it commenced its previously announced $15.0 million rights offering on May 9, 2014. 
 
Under the terms of the rights offering, Cache distributed, at no charge to the holders of record of its common stock at 5:00 p.m., New York City time, on the record date for the rights offering of May 8, 2014, approximately 0.342 non-transferable subscription rights for each share of common stock owned on the record date, as will be more fully described in the prospectus relating to the rights offering. 
 
Each whole subscription right will entitle the holder to purchase one share of common stock, at a subscription price of $2.00 per share. Michael F. Price, a member of the Board, managing partner of MFP Investors, LLP and Cache’s largest shareholder has expressed his intent to exercise his subscription rights under the offering, as along with other independent directors. 
 
Chairman and Chief Executive Officer, Jay Margolis and Executive Vice President and Chief Financial Officer, Tony DiPippa have also expressed their intention to participate in the rights offering. In addition, holders of subscription rights who fully exercise their basic subscription rights are entitled to over-subscribe for additional shares of common stock that remain unsubscribed as a result of any unexercised rights (subject to certain limitations described in the prospectus relating to the rights offering). 
 
The subscription rights may be exercised until 5:00 p.m. New York City time, on May 22, 2014, as more fully described in the prospectus. Any fractional rights remaining after aggregating all of the subscription rights issued to a shareholder will be rounded down to the nearest whole number, and no shareholder will receive any shares with respect to fractional rights that are rounded down.
 
About Cache, Inc.
Cache is a nationwide, mall-based specialty retailer of apparel and accessories. Cache offers a boutique shopping experience for stylish and fashion-conscious women with a product line consisting of elegant evening wear, event and day dresses, casual sportswear and accessories, primarily sold under the Cache brand- everything to meet the events and lifestyle needs in a woman's life. Cache currently operates 239 stores, primarily situated in central locations in high traffic, upscale malls in 41 states, the Virgin Islands and Puerto Rico.
 

Cache

Must ReadView All

Textiles | On 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

The new OJ 59/1 B. Courtesy: Karl Mayer

Textiles | On 7th Dec 2016

Karl Mayer unveils new LACE.EXPRESS model for apparel

Germany’s leading textile machinery firm, Karl Mayer, has launched a...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Suresh Patel
Sidwin Fabric

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Bani Batra

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search