Bleach Group plans initial public offering of 3 million common shares

Wellington Shields will have greenshoe of 450,000 additional shares

By Devika Patel

Knoxville, Tenn., Dec. 14 - Bleach Group, Inc. will price an initial public offering of 3 million common shares, according to a Form S-1 filed Thursday with the Securities and Exchange Commission. The company expects its shares will trade on the NYSE MKT exchange.

The company expects that the price will be between $5.00 and $6.00 per share.

The deal has a 45-day greenshoe option of 450,000 additional shares.

Wellington Shields & Co. is assisting.

Proceeds will be used to acquire the eight existing Ksubi retail stores from the independent Ksubi retail franchise operator, launch up to eight new Australian and four international Ksubi retail stores, launch 14 new "Sugarmill" concept stores in Australia, develop the company's online retail platform, reacquire from an independent distributor the distribution rights for the Insight brand in the United States, acquire complementary or strategic brands, create and develop diffusion and private label brands, strengthen the company's back-office infrastructure, including improving system software, hiring key back-office personnel and developing customer service internet initiatives, and retire the Westpac vendor finance relating to the purchase of the Ksubi brand. Remaining proceeds will be used for working capital and other general corporate purposes.

Based in New York, Bleach Group designs, sources, markets, distributes and sells globally-recognized brands of youth fashion apparel and accessories, including the Insight, Something Else and Ksubi brands.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.