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Wet Seal announces secondary offering of common stock

14
Dec '06
Specialty retailer The Wet Seal Inc announced a secondary offering of 16,000,000 shares of its Class A common stock. As a part of the offering, the selling stockholders have granted to the underwriters an over-allotment option to purchase up to 2,400,000 additional shares of the Company's Class A common stock.

The shares are being sold by certain affiliates of Prentice Capital Management, LP (200,000 shares), S.A.C. Capital Associates, LLC (16,675,000 shares) and GMM Capital LLC (1,525,000 shares).

The Company will not receive any proceeds from this offering, other than proceeds received as a result of the exercise of warrants for shares of Class A common stock to be sold in the offering by the selling stockholders.

The Wet Seal Inc


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