Iconix extends cash tender offer by one week for class A-2 notes

By Mary-Katherine Stinson

Lexington, Ky., April 14 – Iconix International Inc., formerly known as Iconix Brand Group, Inc., again extended its cash tender offer to purchase between $10 million and $75 million from two series of its outstanding class A-2 notes, according to a press release on Friday.

The offer will now expire at 5 p.m. ET on April 21. It was previously extended to April 13. The original expiration was March 30.

As previously reported, the offer was originally launched with a $25 million minimum. In connection with the first extension, Iconix reduced the minimum amount to $10 million.

As of the original expiration time on March 30, no class A-2 notes had been purchased as the minimum amount was not reached. In total, about $31,191,000 original principal amount (not considering partial repayments) of the notes had been validly tendered as of March 30.

Noteholders who have already tendered their notes in the offer do not need to take any action.

Class A-2 notes tendered in the offer and accepted for purchase by Iconix will remain outstanding after the expiration time and will not be contributed to the co-issuers for redemption.

As previously reported, treating both series of class A-2 notes as one collective series, Iconix is offering to buy from the following:

• $210,281,962 outstanding series 2012-1 4.229% senior secured notes (Cusip: 45112AAA5); and

• $101,833,544 outstanding series 2013-1 4.352% senior secured notes (Cusip: 45112AAC1).

In each case and due to scaling, the total consideration will be $250 per $1,000 principal amount plus accrued and unpaid interest from Jan. 25 until the anticipated settlement date.

The $210,281,962 outstanding amount of the series 2012-1 notes reflects that the original principal amount of $600 million has been partially repaid, resulting in a current scaling factor of 35.05%.

Likewise, the $101,833,544 outstanding amount of the series 2013-1 notes reflects that the original principal amount of $275 million has been partially repaid, resulting in a current scaling factor of 37.03%.

There are no guaranteed delivery provisions, and tenders may be subject to proration if the offer is oversubscribed.

March 30 was the withdrawal deadline. Notes tendered during the extension time will be irrevocable.

D.F. King & Co., Inc. is the information and tender agent for the offer (877 478-5045, 212 269-5550, iconix@dfking.com, https://www.dfking.com/iconix).

In connection with the offer, Iconix has retained Ducera Securities LLC as its financial adviser.

Iconix owns, licenses and markets a portfolio of consumer brands and is based in New York.

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