Proceeds to be used for working capital, general corporate purposes
By Devika Patel
Knoxville, Tenn., May 28 - Cache, Inc. said it priced a $14 million public offering of stock with a $2.1 million greenshoe. The deal was announced Tuesday.
The company will sell 8 million common shares at $1.75 per share. The price per share is a 3.85% discount to the May 27 closing share price of $1.82.
B. Riley & Co., LLC is the underwriter.
Settlement is expected June 2.
Proceeds will be used for working capital and general corporate purposes.
Cache is a mall-based specialty retailer of apparel and accessories based in New York City.
| Issuer: | Cache, Inc.
|
| Issue: | Common stock
|
| Amount: | $14 million
|
| Greenshoe: | $2.1 million
|
| Shares: | 8 million
|
| Price: | $1.75
|
| Warrants: | No
|
| Underwriter: | B. Riley & Co., LLC
|
| Announcement date: | May 27
|
| Pricing date: | May 28
|
| Settlement date: | June 2
|
| Stock symbol: | Nasdaq: CACH
|
| Stock price: | $1.82 at close May 27
|
| Market capitalization: | $37.19 million
|
© 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.
