Janney Montgomery sells 7.25% notes, series B convertible preferreds
By Devika Patel
Knoxville, Tenn., Feb. 18 - dELiA*s, Inc. said it plans a private placement of 7.25% convertible notes to raise $24.12 million and a placement of series B convertible preferred stock to raise $19.98 million.
The note is convertible into 241,166 common shares.
The 199,834 6% preferreds are each convertible into 125 common shares at a conversion price of $0.80, which is a 6.67% premium to the Feb. 14 closing price of $0.75.
Janney Montgomery Scott LLC is the agent.
Settlement is expected on Feb. 18.
The direct marketing and retail company is based in New York.
| Issuer: | dELiA*s, Inc.
|
| Issue: | Convertible notes, series B convertible preferred stock
|
| Amount: | $44.1 million
|
| Warrants: | No
|
| Agent: | Janney Montgomery Scott LLC
|
| Pricing date: | Feb. 18
|
| Settlement date: | Feb. 18
|
| Stock symbol: | Nasdaq: DLIA
|
| Stock price: | $0.75 at close Feb. 14
|
| Market capitalization: | $45.94 million
|
|
|
| Convertibles
|
| Amount: | $24,116,600
|
| Coupon: | 7.25%
|
| Conversion ratio: | Into 241,166 shares
|
|
|
| Preferreds
|
| Amount: | $19,983,400
|
| Preferreds: | 199,834
|
| Dividends: | 6%
|
| Conversion price: | $0.80
|
| Conversion ratio: | Into 125 common shares (per preferred)
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
