Xcel Brands, Inc., which owns the Judith Ripka, Halston, Logo by Lori Goldstein, and C. Wonder by Christian Siriano brands and a minority stakeholder in the Isaac Mizrahi brand, priced its previously announced underwritten public offering of shares of its common stock.
Xcel will sell all common stock shares at a public offering price of 65 cents per share for gross proceeds of $2,134,874 before underwriting discounts and commissions and offering expenses, including participation from members of the company’s management. The offering is expected to close on or about March 19.
Additionally, members of Xcel management, including Robert D’Loren, Xcel’s chairman, CEO and president, have executed subscription agreements to purchase 294,642 shares of common stock from Xcel in a private placement for an aggregate purchase price of $288,749 at 98 cents per share, the consolidated closing bid price of the common stock on March 14.
Craig-Hallum Capital Group, LLC is the sole managing underwriter for the offering.
The securities are being offered pursuant to a shelf registration statement filed with the SEC on January 26, 2024, and declared effective by the SEC on February 6, 2024. The offering will be made only by means of the prospectus and prospectus supplement that form part of the registration statement.
A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and available on the SEC’s website at sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering, when available, can also be obtained by contacting Craig-Hallum Capital Group, LLC.
Image courtesy Halston
