Designer Brands, Inc.’s Dutch auction tender offer, which expired on July 7, was priced at $10.00 a share, the upper end of its raised $8.75 to $10.00 range.
Shareholders tendered 1.47 million of DBI’s Class A shares into the offering.
Designer Brands expects to purchase all 1.47 million shares through the tender offer at $10.00 per share for an aggregate cost of approximately $14.7 million, excluding fees and expenses relating to the tender offer.
The purchased shares represent approximately 2.5 percent of the total number of shares outstanding.
BofA Securities, Inc. and BMO Capital Markets Corp. acted as dealer managers for the tender offer, and Georgeson, LLC acted as information agent for the tender offer.
