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Sunset Suits announces closing of $16 mn private placement
26
Jul '08
Sunset Suits Holdings Inc, a designer and retailer of high quality menswear based in Poland, officially announced the closing of its May 21, 2008 private placement. Sunset Suits sold 5,128,217 shares of its Common Stock to 71 accredited and international investors for $16 million.

Net proceeds to Sunset Suits from the sale of all of the shares was approximately $13.43 million. Proceeds from the private placement transaction will be used to develop the domestic and international retail stores network with excess funds being used for general working capital purposes.

The securities sold pursuant to the Securities Purchase Agreement have not been registered under the Securities Act of 1933, or any state securities laws, and have been sold in a private transaction under both Regulation D and Regulation S. On July 3, 2008, Sunset Suits filed a registration statement on Form S-1 with the Securities and Exchange Commission, or SEC, covering the resale of the shares that were sold in the private placement.

Sunset Suits' common stock is not currently traded on a national securities exchange nor has it been approved for quotation on the Over-the-Counter Bulletin Board, or OTCBB. Once the Registration Statement is declared effective by the SEC, Sunset Suits will apply to have its securities listed on either the OTCBB or on a national securities exchange.

Sunset Suits Holdings Inc

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