Everlast Worldwide Inc. has completed and closed on the merger with Brands Holdings after receiving shareholder approval at a special meeting of Everlast's shareholders held on September 19, 2007. In the transaction, each issued and outstanding share of Everlast Worldwide Inc. common stock was cancelled and converted automatically into the right to receive $33.00 in cash, without interest.
Everlast Worldwide Inc.'s common stock will no longer be publicly traded. Shareholders of Everlast Worldwide Inc. who have stock certificates in their possession will receive Letter of Transmittal instructions by mail from Continental Stock Transfer & Trust Company, the paying agent, concerning how and where to forward their certificates for payment. Shareholders owning Everlast Worldwide Inc. common stock in street name held in brokerage institutions will be paid directly and are not required to do anything further at this time.
