Shareholders receive one right for 0.3191 shares for each share held
By Devika Patel
Knoxville, Tenn., March 16 – Vince Holding Corp. said it plans to raise $65 million in a rights offering with a 20% greenshoe.
The company will offer rights for 11,818,181 common shares at $5.50 apiece, which is a 24.97% discount to the closing share price of $7.33 on March 15.
Investors will receive one right to buy about 0.3191 of a share for every common share held as of March 23, the record date.
The offer will expire on April 14.
Vince is a New York-based diversified apparel company.
| Issuer: | Vince Holding Corp.
|
| Issue: | Common stock
|
| Amount: | $65 million
|
| Greenshoe: | 20%
|
| Shares: | 11,818,181
|
| Price: | $5.50
|
| Warrants: | No
|
| Bookrunner: | UBS Investment Bank
|
| Pricing date: | March 16
|
| Record date: | March 23
|
| Expiration date: | April 14
|
| Stock symbol: | NYSE: VNCE
|
| Stock price: | $7.33 at close March 15
|
| Market capitalization: | $284.67 million
|
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