Interviews
dELiA*s delays subscription rights offering
20 Jan '06
2 min read
Direct marketing and retail company DELiA*s Inc comprised of three lifestyle brands primarily targeting consumers between the ages of 12 and 19, has extended to 5:00 p.m. New York City time, on February 10, 2006 the deadline for eligible shareholders to subscribe to buy new shares under its current subscription rights offering.
All other terms and conditions of the offering, which was originally scheduled to expire January 27, 2006, remain the same.
Walter Killough, dELiA*s' Chief Operating Officer, said "They have noticed a significant delay in the delivery to a number of shareholders of the prospectus, rights certificates and other documents that shareholders need in order to make an informed decision to either exercise or transfer their rights.
A number of shareholders have contacted us stating that they have not yet, or have only recently, received their rights offering documents.
Therefore, they have decided to extend the rights offering for two weeks.
They hope this extension gives all of their shareholders the time they need to review their rights offering documents, consult with their brokers and complete the necessary paperwork."
Under the terms of the offering, common stock holders of record on December 28, 2005 were issued 0.11533 transferable rights for each share of common stock held.
Each whole right is exercisable for one share of common stock at a subscription price of $7.43 cash.
The rights currently are listed for trading on the Nasdaq National Market System under the symbol "DLIAR."
All other terms and conditions of the offering, which was originally scheduled to expire January 27, 2006, remain the same.
Walter Killough, dELiA*s' Chief Operating Officer, said "They have noticed a significant delay in the delivery to a number of shareholders of the prospectus, rights certificates and other documents that shareholders need in order to make an informed decision to either exercise or transfer their rights.
A number of shareholders have contacted us stating that they have not yet, or have only recently, received their rights offering documents.
Therefore, they have decided to extend the rights offering for two weeks.
They hope this extension gives all of their shareholders the time they need to review their rights offering documents, consult with their brokers and complete the necessary paperwork."
Under the terms of the offering, common stock holders of record on December 28, 2005 were issued 0.11533 transferable rights for each share of common stock held.
Each whole right is exercisable for one share of common stock at a subscription price of $7.43 cash.
The rights currently are listed for trading on the Nasdaq National Market System under the symbol "DLIAR."
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