Advent begins subsequent offering period for Charlotte Russe shares

By Lisa Kerner

Charlotte, N.C., Sept. 30 - Advent International Corp. said approximately 18,001,964 shares, or about 85.477%, of Charlotte Russe Holding, Inc.'s outstanding common stock were tendered in Advent's offer that ended at midnight ET on Monday.

Another 800,253 shares were tendered under guaranteed delivery procedures, according to Advent and Mellon Investor Services LLC, the depositary for the tender offer.

Charlotte Russe said Advent began a subsequent offering period for the company's remaining shares at the same $17.50-per-share price as the tender offer.

The subsequent offering period ends at midnight ET on Oct. 13.

In August, Charlotte Russe announced it agreed to be taken private by investment funds managed by private equity firm Advent in a deal valued at $380 million.

Earlier in the month, Charlotte Russe, a San Diego-based specialty retailer, announced that the Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger.

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