G-III Apparel Group Prices Common Stock Offering
December 16 2009 - 9:09AM
Business Wire
G-III Apparel Group, Ltd. (NasdaqGSM: GIII) today announced that
it has priced an underwritten public offering of 1,700,000 shares
of its common stock at a price to the public of $19.50 per share.
All of the shares are being offered by the Company. In connection
with the offering, the Company has also granted the underwriters a
30-day option to purchase up to an additional 255,000 shares of
common stock to cover over-allotments, if any. The closing of the
offering is expected to take place on or about December 22, 2009,
subject to the satisfaction of customary closing conditions. Piper
Jaffray & Co. is acting as the sole book-running manager, with
Lazard Capital Markets acting as co-lead manager of the offering.
Brean Murray, Carret & Co. and KeyBanc Capital Markets are
acting as co-managers.
The Company intends to use the proceeds of the offering for
general corporate purposes to support the growth of its business,
which may include acquisitions.
The offering is being made pursuant to an effective shelf
registration statement filed with the Securities and Exchange
Commission on October 26, 2009. A prospectus supplement relating to
the offering will be filed with the Securities and Exchange
Commission. When available, copies of the prospectus supplement
relating to this offering may be obtained by contacting Piper
Jaffray & Co. at 800 Nicollet Mall, Suite 800, Minneapolis, MN
55402 or by calling (800) 747-3924.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
shares in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About G-III Apparel Group, Ltd.
G-III is a leading manufacturer and distributor of outerwear,
dresses, sportswear and women’s suits under licensed brands, our
own brands and private label brands. G-III has fashion licenses
under the Calvin Klein, Sean John, Kenneth Cole, Cole Haan, Guess?,
Jones New York, Jessica Simpson, Nine West, Ellen Tracy, Tommy
Hilfiger, Enyce, Levi’s and Dockers brands and sports licenses with
the National Football League, National Basketball Association,
Major League Baseball, National Hockey League, Touch by Alyssa
Milano and more than 100 U.S. colleges and universities. G-III
sells outerwear and handbags under our own Andrew Marc and Marc New
York brands and has licensed these brands for women’s footwear,
men’s accessories, women’s handbags and men’s cold weather
accessories. Our other owned brands include Marvin Richards, G-III,
Jessica Howard, Eliza J., Black Rivet, Siena Studio, Tannery West,
G-III by Carl Banks and Winlit. G-III works with a diversified
group of retailers in developing product lines to be sold under
their proprietary private labels. G-III also operates 121 retail
stores, of which 118 are outlet stores operated under the Wilsons
Leather name.
Statements concerning G-III’s business outlook or future
economic performance, anticipated revenues, expenses or other
financial items; product introductions and plans and objectives
related thereto; and statements concerning assumptions made or
expectations as to any future events, conditions, performance or
other matters are “forward-looking statements” as that term is
defined under the Federal Securities laws. Forward-looking
statements are subject to risks, uncertainties and factors which
include, but are not limited to, reliance on licensed product,
reliance on foreign manufacturers, risks of doing business abroad,
the current economic and credit crisis, the nature of the apparel
industry, including changing customer demand and tastes, customer
concentration, seasonality, risks of operating a retail business,
customer acceptance of new products, the impact of competitive
products and pricing, dependence on existing management, possible
disruption from acquisitions and general economic conditions, as
well as other risks detailed in G-III’s filings with the Securities
and Exchange Commission. G-III assumes no obligation to update the
information in this release.
G III Apparel (NASDAQ:GIII)
Historical Stock Chart
From May 2024 to Jun 2024
G III Apparel (NASDAQ:GIII)
Historical Stock Chart
From Jun 2023 to Jun 2024