News Flash

Iconix brand declares underwritten common stock offering

02 Nov '06

2 min read

Iconix Brand Group Inc announced that the Company and certain of its stockholders intend to proceed with an underwritten public offering of Iconix common stock. Iconix expects that it will offer approximately $150 million and the selling stockholders will offer approximately $50 million of Iconix common stock in the offering which will include management as well as previous sellers of brands to Iconix that have received stock as part of their consideration.

Net proceeds to Iconix are intended to be used primarily to repay indebtedness incurred in connection with the Company's announced acquisitions of Mossimo Inc and pending acquisition of the Ocean Pacific brand. Iconix anticipates completing the public offering prior to the end of the year, but there can be no assurance as to when or whether the offering will be completed or as to the exact size of the offering.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which the offer, solicitation or sale of securities would be unlawful prior to registration or qualification thereof under the applicable securities laws.

Any offers, solicitations of offers to buy, or any sales of securities will only be made in accordance with the registration requirements of the Securities Act of 1933 or an exemption there from. This announcement is being issued pursuant to and in accordance with Rule 135 under the Securities Act of 1933.

Iconix Brand Group Inc

More Iconix Brand Group Inc News... More Fashion News - United States Of America...