Iconix reports results of class A-2 notes tender offer

By Mary-Katherine Stinson

Lexington, Ky., April 24 – 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.

As of the expiration time of 5 p.m. ET on April 21, approximately $31,191,000 original principal amount of the outstanding class A-2 notes were tendered, not including partial repayments of the notes. This tender total was unchanged from the amount reported as of March 30, the original expiration date.

As previously reported, the expiration date was extended twice. It was previously extended to April 13. The original expiration was March 30.

Settlement will be April 24.

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.

As previously reported, treating both series of class A-2 notes as one collective series, Iconix was 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 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 were no guaranteed delivery provisions.

March 30 was the withdrawal deadline. Notes tendered during the extension time were 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 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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