Misgav based boutique-quality everyday intimate apparel producer Tefron Ltd announced that its Board of Directors had authorized the filing of a draft prospectus with the Israeli Securities Authority and the Tel Aviv Stock Exchange in connection with a possible underwritten offering to the public in Israel either of Ordinary Shares or of a combination of Ordinary Shares and options convertible into Ordinary Shares.
The offering would be made by Tefron only, and not by any selling shareholder. If the offering is completed, Tefron currently intends to raise up to a maximum amount of approximately $20 million from the offering, depending on market conditions.
No final decision on an offering has been made and any offering is subject to the final approval of Tefron's Board of Directors and to the publishing of a final prospectus with the approval of the Israeli Securities Authority.
The securities offered have not been and will not be registered under the U.S. 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 makers 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. The Company's Healthcare Division manufactures and sells a range of textile healthcare products.