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Fossil Group, Inc. Announces Pricing of Upsized $140 Million Offering of Senior Notes Due 2026
RICHARDSON, Texas, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) (“Fossil Group” or the “Company”) today announced the pricing of its
About this update from Fossil Group, Inc.
[{"type":"text","content":"RICHARDSON, Texas, Nov. 03, 2021 (GLOBE NEWSWIRE) -- 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 [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 Grou...