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Apparel maker Tefron completes public auction
12 Jan '06
2 min read
Leading producers of seamless intimate apparel and active-wear, Tefron Ltd announced that it had completed a public auction in connection with its oversubscribed underwritten offering of Ordinary Shares ('Shares') and Option Certificates (Series 1) ('Option Certificates') in Israel.
A total of 100,000 units are to be issued in the offering at a price of NIS 701.64 (approximately $151.48) per unit.
Each unit consists of 18 Shares and six Option Certificates.
Each Option Certificate is exercisable into one Share until January 9, 2007 at an exercise price of $9.49 per Share.
The total net proceeds to the Company from the offering are expected to be approximately $13.9 million (plus any proceeds that Tefron may receive from any exercise of Option Certificates).
Tefron expects to list the Shares and the Option Certificates for trading on the Tel Aviv Stock Exchange in the coming days.
The Shares, the Option Certificates and the Shares issuable upon exercise of the Option Certificates have not been and will not be registered under the US.
Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Tefron manufactures boutique-quality everyday seamless intimate apparel, active wear and swim wear sold throughout the world by such name-brand marketers as Victoria's Secret, Nike, The Gap, Banana Republic, Target, Warnaco/Calvin Klein, Patagonia, Reebok and El Corte Englese, as well as other well known retailers and designer labels.
The company's product line includes knitted briefs, bras, tank tops, boxers, leggings, crop, T-shirts, nightwear, bodysuits, swim wear, beach wear and active-wear.
A total of 100,000 units are to be issued in the offering at a price of NIS 701.64 (approximately $151.48) per unit.
Each unit consists of 18 Shares and six Option Certificates.
Each Option Certificate is exercisable into one Share until January 9, 2007 at an exercise price of $9.49 per Share.
The total net proceeds to the Company from the offering are expected to be approximately $13.9 million (plus any proceeds that Tefron may receive from any exercise of Option Certificates).
Tefron expects to list the Shares and the Option Certificates for trading on the Tel Aviv Stock Exchange in the coming days.
The Shares, the Option Certificates and the Shares issuable upon exercise of the Option Certificates have not been and will not be registered under the US.
Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Tefron manufactures boutique-quality everyday seamless intimate apparel, active wear and swim wear sold throughout the world by such name-brand marketers as Victoria's Secret, Nike, The Gap, Banana Republic, Target, Warnaco/Calvin Klein, Patagonia, Reebok and El Corte Englese, as well as other well known retailers and designer labels.
The company's product line includes knitted briefs, bras, tank tops, boxers, leggings, crop, T-shirts, nightwear, bodysuits, swim wear, beach wear and active-wear.
Tefron Ltd
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