Cache commences $15mn rights offering on May 9

Cache, Inc., a specialty chain of women’s apparel stores, announced that it commenced its previously announced $15.0 million rights offering on May 9, 2014. 

 

Cache, Inc., a specialty chain of women's apparel stores, announced that it commenced its previously announced $15.0 million rights offering on May 9,#

Under the terms of the rights offering, Cache distributed, at no charge to the holders of record of its common stock at 5:00 p.m., New York City time, on the record date for the rights offering of May 8, 2014, approximately 0.342 non-transferable subscription rights for each share of common stock owned on the record date, as will be more fully described in the prospectus relating to the rights offering. 

 

Cache, Inc., a specialty chain of women's apparel stores, announced that it commenced its previously announced $15.0 million rights offering on May 9,#

Each whole subscription right will entitle the holder to purchase one share of common stock, at a subscription price of $2.00 per share. Michael F. Price, a member of the Board, managing partner of MFP Investors, LLP and Cache’s largest shareholder has expressed his intent to exercise his subscription rights under the offering, as along with other independent directors. 

 

Cache, Inc., a specialty chain of women's apparel stores, announced that it commenced its previously announced $15.0 million rights offering on May 9,#

Chairman and Chief Executive Officer, Jay Margolis and Executive Vice President and Chief Financial Officer, Tony DiPippa have also expressed their intention to participate in the rights offering. In addition, holders of subscription rights who fully exercise their basic subscription rights are entitled to over-subscribe for additional shares of common stock that remain unsubscribed as a result of any unexercised rights (subject to certain limitations described in the prospectus relating to the rights offering). 

 

Cache, Inc., a specialty chain of women's apparel stores, announced that it commenced its previously announced $15.0 million rights offering on May 9,#

The subscription rights may be exercised until 5:00 p.m. New York City time, on May 22, 2014, as more fully described in the prospectus. Any fractional rights remaining after aggregating all of the subscription rights issued to a shareholder will be rounded down to the nearest whole number, and no shareholder will receive any shares with respect to fractional rights that are rounded down.

 

Cache, Inc., a specialty chain of women's apparel stores, announced that it commenced its previously announced $15.0 million rights offering on May 9,#

About Cache, Inc.

Cache is a nationwide, mall-based specialty retailer of apparel and accessories. Cache offers a boutique shopping experience for stylish and fashion-conscious women with a product line consisting of elegant evening wear, event and day dresses, casual sportswear and accessories, primarily sold under the Cache brand- everything to meet the events and lifestyle needs in a woman's life. Cache currently operates 239 stores, primarily situated in central locations in high traffic, upscale malls in 41 states, the Virgin Islands and Puerto Rico.

 

Cache, Inc., a specialty chain of women's apparel stores, announced that it commenced its previously announced $15.0 million rights offering on May 9,#