New Issue: Frederick's of Hollywood details $3.05 million placement of shares

By Devika Patel

Knoxville, Tenn., March 22 - Frederick's of Hollywood Group Inc. gave further details on a $3.05 million private placement of stock in an 8-K filed Monday with the Securities and Exchange Commission. The deal was completed March 16.

The company sold 2,907,051 common shares at $1.05 apiece.

Investors also received series A warrants for 1,162,820 shares, which are exercisable at $1.25 for two-and-a-half years, and five-year series B warrants, which are exercisable for 1,162,820 shares at $1.55 per share.

Avalon Securities Ltd. was the agent.

Proceeds will be used for working capital and general corporate purposes.

Frederick's is a New York-based retailer of women's intimate apparel and related products.

Issuer:	Frederick's of Hollywood Group Inc.
Issue:	Common stock
Amount:	$3,052,404
Shares:	2,907,051
Price:	$1.05
Warrants:	1,162,820 series A warrants, 1,162,820 series B warrants
Warrant expiration:	Two-and-a-half years (series A), five years (series B)
Warrant strike price:	$1.25 (series A), $1.55 (series B)
Agent:	Avalon Securities Ltd.
Settlement date:	March 16
Stock symbol:	Amex: FOH
Stock price:	$1.21 at close March 16
Market capitalization:	$30.1 million

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