ICON Iconix Brand Group Inc

NEW YORK, Nov. 1 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc. (NASDAQ:ICON) ("Iconix" or "the Company") today announced that the Company and certain of its stockholders intend to proceed with an underwritten public offering of Iconix common stock. Iconix expects that it will offer approximately $150 million and the selling stockholders will offer approximately $50 million of Iconix common stock in the offering which will include management as well as previous sellers of brands to Iconix that have received stock as part of their consideration. Net proceeds to Iconix are intended to be used primarily to repay indebtedness incurred in connection with the Company's announced acquisitions of Mossimo, Inc. and pending acquisition of the Ocean Pacific brand. Iconix anticipates completing the public offering prior to the end of the year, but there can be no assurance as to when or whether the offering will be completed or as to the exact size of the offering. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which the offer, solicitation or sale of securities would be unlawful prior to registration or qualification thereof under the applicable securities laws. Any offers, solicitations of offers to buy, or any sales of securities will only be made in accordance with the registration requirements of the Securities Act of 1933 or an exemption there from. This announcement is being issued pursuant to and in accordance with Rule 135 under the Securities Act of 1933. 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) and MOSSIMO(R). The Company has also entered into a definitive agreement to purchase the brand OCEAN PACIFIC(R). 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. Forward Looking Statements This press release contains certain forward-looking statements within the meaning of the Private Securities Reform Act of 1995. When used in this press release, the words "intends," "anticipates," "expects" and similar expressions identify such forward-looking statements. Actual events and results could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of Iconix and are subject to a number of known and unknown risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the results of Iconix's decision to license its footwear business, 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 Iconix's 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 Iconix 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 Iconix's SEC filings. Further information about factors that could affect Iconix's financial and other results and its ability to complete the proposed offering is included in its filings with the Securities and Exchange Commission. Iconix does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Contact: David Conn Executive Vice President Iconix Brand Group 212.730.0030 Joseph Teklits Integrated Corporate Relations 203.682.8200 DATASOURCE: Iconix Brand Group, Inc. CONTACT: David Conn, Executive Vice President of Iconix Brand Group, +1-212-730-0030; or Joseph Teklits, Integrated Corporate Relations, +1-203-682-8200 Web site: http://iconixbrand.com/

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