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By The Online Investor Staff, updated Thu., Apr. 25, 11:51 AM
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Private Placements| This Slide: #24 of 25 |
Slide #24. Sequential Brands Group, Inc. — Private Placement
Company:
Sequential Brands Group, Inc. (SQBG)
Announcement Date:
12/27/2012
Additional Amount Expected:
$22,400,000
Private Placement Details:
Sequential Brands Group, Inc. ("Sequential") (OTC:SQBG) today announced that it has entered into a securities purchase agreement for a private placement of its common stock that is exempt from registration under the Securities Act of 1933, as amended, with a select group of accredited investors. The private placement is expected to fund no later than January 9, 2013. Upon the funding of the private placement, Sequential will receive gross proceeds of approximately $22.4 million from the sale of 4,966,667 shares of common stock at a price of $4.50 per share. Sequential intends to use the net proceeds from the private placement for general corporate purposes, including to fund certain planned and other potential business acquisitions and to pay the fees and expenses associated therewith.
Sequential Brands Group owns a portfolio of consumer brands in the active and lifestyle categories, including, Jessica Simpson, AND1, Avia, Joe's and GAIAM. Co.'s brands are licensed for a range of product categories, including apparel, footwear, fashion accessories and home goods. In a wholesale license, a wholesale supplier is granted rights to a single or small group of related product categories for a particular brand for sale to various accounts within an approved channel of distribution and territory. In a direct-to-retail license, a single retailer is granted the right to sell branded products in a range of product categories through its brick and mortar stores and e-commerce sites. Sequential Brands Group owns a portfolio of consumer brands in the active and lifestyle categories, including, Jessica Simpson, AND1, Avia, Joe's and GAIAM. Co.'s brands are licensed for a range of product categories, including apparel, footwear, fashion accessories and home goods. In a wholesale license, a wholesale supplier is granted rights to a single or small group of related product categories for a particular brand for sale to various accounts within an approved channel of distribution and territory. In a direct-to-retail license, a single retailer is granted the right to sell branded products in a range of product categories through its brick and mortar stores and e-commerce sites.
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