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Fifth & Pacific issues shares for $8 million of 6% convertibles
By Tali David
Minneapolis, Nov. 30 - Fifth & Pacific Cos., Inc. said that a holder of $8 million principal amount of the company's 6% convertible senior notes due 2014 agreed on Nov. 20 to exchange the convertibles into 2,287,765 shares of common stock, according to an 8-K filed with the Securities and Exchange Commission.
The company paid accrued interest through Nov. 30, the settlement date, in cash.
New York-based Fifth & Pacific, formerly Liz Claiborne Inc., was formed in May 2012. The company is focused on growing its global lifestyle brands: Juicy Couture, Kate Spade and Lucky Brand.
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