Iconix Announces Closing of Common Stock Offering
June 09 2009 - 3:31PM
PR Newswire (US)
NEW YORK, June 9 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc.
(NASDAQ:ICON) ("Iconix" or the "Company"), today announced the
closing of the public offering of 11.5 million shares of its common
stock at a price to the public of $15.00 per share, of which
800,000 shares were sold by certain selling stockholders named in
the prospectus. The net proceeds to Iconix, after payment of
underwriting discounts and other estimated expenses of the
offering, were approximately $152.9 million. Iconix intends to use
the net proceeds of the offering for general corporate purposes,
which may include, among other things, funding acquisitions. Iconix
did not receive any proceeds from the shares sold by the selling
stockholders. The total number of shares sold included 1.5 million
shares of common stock sold in connection with the full exercise of
the option to purchase additional shares granted to the
underwriters. Barclays Capital Inc. and Lazard Capital Markets LLC
acted as joint book-running managers for the offering, with Credit
Suisse Securities (USA) LLC acting as the co-manager for the
offering. Iconix Brand Group Inc. (NASDAQ:ICON) owns, licenses and
markets a growing portfolio of consumer brands including CANDIE'S
(R), BONGO (R), BADGLEY MISCHKA (R), JOE BOXER (R), RAMPAGE (R),
MUDD (R), LONDON FOG (R), MOSSIMO (R), OCEAN PACIFIC (R), DANSKIN
(R), ROCA WEAR(R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R),
CHARISMA (R), STARTER (R) and WAVERLY (R). In addition, Iconix owns
an interest in the ARTFUL DODGER (R) and ED HARDY (R) brands. The
Company licenses its brands to a network of leading retailers and
manufacturers that touch every major segment of retail distribution
from the luxury market to the mass market in both the U.S. and
around the world. Iconix, through its in-house advertising,
promotion and public relations agency, markets its brands to
continually drive greater consumer awareness and equity. Safe
Harbor Statement under the Private Securities Litigation Reform Act
of 1995. The statements that are not historical facts contained in
this press release are forward looking statements that involve a
number of known and unknown risks, uncertainties and other factors,
all of which are difficult or impossible to predict and many of
which are beyond the control of the Company, which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward looking
statements. Such factors include, but are not limited to,
uncertainty regarding the results of the Company's acquisition of
additional licenses, continued market acceptance of current
products and the ability to successfully develop and market new
products particularly in light of rapidly changing fashion trends,
the impact of supply and manufacturing constraints or difficulties
relating to the Company's licensees' dependence on foreign
manufacturers and suppliers, uncertainties relating to customer
plans and commitments, the ability of licensees to successfully
market and sell branded products, competition, uncertainties
relating to economic conditions in the markets in which the Company
operates, the ability to hire and retain key personnel, the ability
to obtain capital if required, the risks of litigation and
regulatory proceedings, the risks of uncertainty of trademark
protection, the uncertainty of marketing and licensing acquired
trademarks and other risks detailed in the Company's SEC filings,
including the prospectus supplement relating to the offering. The
words "believe", "anticipate," "expect", "confident", "will",
"project", "provide" "guidance" and similar expressions identify
forward-looking statements. Readers are cautioned not to place
undue reliance on these forward looking statements, which speak
only as of the date the statement was made. All forward-looking
statements are qualified by these cautionary statements and apply
only as of the date they are made. The Company undertakes no
obligation to update any forward-looking statement, whether as a
result of new information, future events or otherwise. Contact:
Jaime Sheinheit Investor Relations Iconix Brand Group, Inc.
212.730.0030 DATASOURCE: Iconix Brand Group, Inc. CONTACT: Jaime
Sheinheit, Investor Relations, Iconix Brand Group, Inc.,
+1-212-730-0030 Web Site: http://iconixbrand.com/
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