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$10 million At-the-Market offering by American Apparel
12
May '15
American Apparel, Inc. a vertically-integrated manufacturer, distributor, and retailer of branded fashion basic apparel, has announced that it has commenced a $10 million "at-the-market" offering programme.

In a statement, American Apparel said under the program, the company may, from time to time and at its discretion, offer and sell shares of its common stock having an aggregate gross sales price of up to $10 million through Cowen and Company, LLC, which will serve as sales agent. The company intends to use the net proceeds generated through the program for working capital and general corporate purposes.

Sales of common stock under the program will be made directly on the NYSE MKT, on any other existing trading market for the Company's common stock or to or through a market maker. In addition, with the Company's prior written approval, sales may be made in negotiated transactions, the statement said.

The common stock will be offered under the company's effective shelf registration statement (including a prospectus) filed with the Securities and Exchange Commission. A prospectus supplement related to the offering has been filed with the Securities and Exchange Commission. Any offer, solicitation or sale will be made only by means of the prospectus supplement and the accompanying prospectus, the statement said. (SH)

Fibre2fashion News Desk - India


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