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Phillips-Van declares closing of Series B Convertible Preferred Stock

21 Jul '05

2 min read

One of the world's largest apparel companies Phillips-Van Heusen Corporation announced the closing of the public offering by certain holders of its Series B Convertible Preferred Stock of 6,386,365 shares of common stock issued upon the conversion of shares of Series B Preferred Stock.

The shares were offered at a purchase price of $32.75 per share.

In addition, the underwriters have also exercised their option to purchase an additional 957,954 shares of common stock to cover over-allotments.

Lehman Brothers Inc and Credit Suisse First Boston are acting as joint book-running managers and J.P. Morgan Securities Inc, Bear, Stearns & Co Inc, and Piper Jaffray & Co are acting as co-managers.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of shares of common stock in any state in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such state.

Any offering will be made only by means of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

New York based Phillips-Van Heusen Corporation owns and markets the Calvin Klein brand worldwide. It is the world's largest shirt company and markets a variety of goods under its own brands, Van Heusen, Calvin Klein, IZOD, Arrow, Bassand G.H. Bass & Co, and its licensed brands Geoffrey Beene, Kenneth Cole New York, Kenneth Cole Reaction, BCBG Max Azria, BCBG Attitude, MICHAEL Michael Kors, Sean Jean, Donald J. Trump Signature Collection and Chaps.

Phillips-Van Heusen Corporation

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