Fossil Group, Inc. Announces Pricing of Upsized $140 Million Offering of Senior Notes Due 2026
03 Novembro 2021 - 7:18PM
Fossil Group, Inc. (NASDAQ: FOSL) (“Fossil Group” or the “Company”)
today announced the pricing of its underwritten registered public
offering of $140 million aggregate principal amount of 7.00% Senior
Notes due 2026 (the “Notes”), representing a $15 million upsize
from the previously announced offering. The Company has granted the
underwriters a 30-day option to purchase an additional $10.0
million aggregate principal amount of the Notes in connection with
the offering. The offering is expected to close on November 8,
2021, subject to customary closing conditions.
The Company has applied to list the Notes on
Nasdaq under the symbol “FOSLL” and expects the Notes to begin
trading within 30 business days of the closing date of the
offering, if approved.
The Company expects to use the net proceeds of
the offering to repay outstanding borrowings under the Company’s
Term Credit Agreement.
B. Riley Securities, Inc., Janney Montgomery
Scott LLC, Ladenburg Thalmann & Co. Inc. and William Blair
& Co., L.L.C. are acting as book-running managers for this
offering. InspereX LLC is acting as lead manager and Aegis Capital
Corp., Alexander Capital L.P., Brownstone Investment Group, LLC,
Colliers Securities LLC, Huntington Securities, Inc., Revere
Securities LLC and Wedbush Securities Inc. are acting as
co-managers.
The offering of the Notes is being made pursuant
to the Company’s shelf registration statement on Form S-3, which
was declared effective by the Securities and Exchange Commission
(“SEC”) on September 30, 2021, including a base prospectus, a
preliminary prospectus supplement related to the offering
previously filed with the SEC, and a prospectus supplement which
will be filed with the SEC.
Copies of the base prospectus and the
preliminary prospectus supplement may be obtained on the SEC’s
website at www.sec.gov, or by contacting B. Riley Securities, Inc.
by phone at (703) 312-9580, or by emailing
prospectuses@brileyfin.com.
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 Notes in any state or jurisdiction in which such
offer, sale or solicitation would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Fossil Group, Inc.
Fossil Group, Inc. is a global design,
marketing, distribution and innovation company specializing in
lifestyle accessories. Under a diverse portfolio of owned and
licensed brands, our offerings include traditional watches,
smartwatches, jewelry, handbags, small leather goods, belts and
sunglasses. We are committed to delivering the best in design and
innovation across our owned brands, Fossil, Michele, Relic, Skagen
and Zodiac, and licensed brands, Armani Exchange, Diesel, DKNY,
Emporio Armani, kate spade new york, Michael Kors, PUMA and Tory
Burch. We bring each brand story to life through an extensive
distribution network across numerous geographies, categories and
channels.
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Any statements in this release that
are not historical facts may be considered such “forward-looking
statements.” Such forward looking statements include, but are not
limited to, statements regarding the terms and conditions and
timing of the Notes offering and the intended use of proceeds.
Because these forward-looking statements involve known and unknown
risks and uncertainties, there are important factors that could
cause actual results, events or developments to differ materially
from those expressed or implied by these forward-looking
statements. Factors that could cause actual results to differ
include (without limitation) the possibility that the Notes
offering will not be consummated at the expected time, on the
expected terms, or at all. Additional risks and uncertainties are
more fully described in Fossil Group’s filings with the SEC,
including its Annual Report on Form 10-K/A for the fiscal year
ended January 2, 2021 as supplemented by subsequent Quarterly
Reports on Form 10-Q. Such documents may be read free of charge on
the SEC’s website at www.sec.gov. Readers of this release are
cautioned not to place undue reliance on, the forward-looking
statements contained herein. The Company assumes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events, or otherwise, except
as required by law.
Contact:
Investor
Relations: |
Christine
Greany |
|
The Blueshirt Group |
|
(858) 722-7815 |
|
christine@blueshirtgroup.com |
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