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Fossil Group, Inc. Announces Closing of $150 Million Offering of Senior Notes Due 2026, Including Full Exercise of Underwriters’ Option
RICHARDSON, Texas, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) (“Fossil Group” or the “Company”) today announced the closing of its
About this update from Fossil Group, Inc.
[{"type":"text","content":"RICHARDSON, Texas, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) (“Fossil Group” or the “Company”) today announced the closing of its underwritten registered public offering of $150 million aggregate principal amount of 7.00% Senior Notes due 2026 (the “Notes”), including the exercise in full of the underwriters’ option to purchase an additional $10 million aggregate principal amount of the Notes. The Notes are expected to begin trading on Nasdaq under the symbol “FOSLL” following the closing date of this offering. The offering resulted in net proceeds of approximately $145.1 million after deducting underwriting discounts and commission, but before expenses and fees. The Company expects to use the net proceeds of the offering to repay outstanding borrowings under the Company’s Term Credit Agreement and for general corporate purposes. B. Riley Securities, Inc., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc. and William Blair & Co., L.L.C. acted as book-running managers for this offering. InspereX LLC acted 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. acted as co-managers. The Notes were offered under 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. The offering of the Notes was made only by means of a prospectus supplement and accompanying base prospectus, each of which was previously 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 [email protected]. 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...