Shareholders receive one right for 0.3191 of a share for each share held
By Devika Patel
Knoxville, Tenn., April 22 – Vince Holding Corp. said it raised about $63.8 million in a rights offering. The deal priced for $65 million with a 20% greenshoe on March 16.
The company sold rights for about 11.6 million common shares at $5.50 apiece, which is a 24.97% discount to the closing share price of $7.33 on March 15.
Investors received one right to buy about 0.3191 of a share for every common share held as of March 23, the record date.
The offer expired on April 14.
Simultaneously with the rights offering, the company raised about $1.1 million from a related backstop investment by Sun Cardinal, LLC and SCSF Cardinal, LLC. The Sun investors bought about 200,000 shares.
Vince is a New York-based diversified apparel company.
| Issuer: | Vince Holding Corp.
|
| Issue: | Common stock
|
| Amount: | $63.8 million (approximate)
|
| Shares: | 11.6 million (approximate)
|
| Price: | $5.50
|
| Warrants: | No
|
| Bookrunner: | UBS Investment Bank
|
| Pricing date: | March 16
|
| Record date: | March 23
|
| Expiration date: | April 14
|
| Settlement date: | April 22
|
| Stock symbol: | NYSE: VNCE
|
| Stock price: | $7.33 at close March 15
|
| Market capitalization: | $239.35 million
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
