On April 11, Gianulli Mossimo, president of Mossimo, Inc. submitted a proposal to buy all outstanding shares of the company, and take the company private again. To finance the purchase, Mossimo last week procured a three-year secured committed term loan credit facility from the CIT Group/Commercial Services, Inc. The letter provides up to $14.5 million, or 35% of the trademark value of “Mossimo” in funding. Currently, Gianulli owns 65.27% of common stock votes and is offering to purchase the remaining shares for $4.00 each.
