Sequential Brands Group, Inc. Announces $44 Million Private Placement
29 July 2013 - 10:00PM
Sequential Brands Group, Inc. ("Sequential" or 'The Company")
(OTC:SQBG) today announced that it has closed a private placement
of its common stock that is exempt from registration under the
Securities Act of 1933, as amended (the "Securities Act"), with a
group of accredited investors. Sequential received gross proceeds
of approximately $44 million from the sale of 8,000,000 shares of
its common stock at a price of $5.50 per share. Sequential intends
to use the net proceeds from the private placement for general
corporate purposes, including to fund certain planned and other
potential business acquisitions, and to pay the fees and expenses
associated therewith. BofA Merrill Lynch acted as lead placement
agent and Brean Capital, LLC acted as co-placement agent.
The common stock offered in the private placement has not been
registered under the Securities Act, and may not be offered or sold
without registration under the Securities Act or pursuant to an
applicable exemption from such registration.
This press release is neither an offer to sell nor the
solicitation of an offer to buy the common stock or any other
security, and shall not constitute an offer, solicitation or sale
of the common stock or any other security in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
About Sequential Brands Group, Inc.
Sequential Brands Group, Inc. (OTC:SQBG) owns, promotes,
markets, and licenses a portfolio of consumer brands that presently
includes William Rast®, People's Liberation®, DVS® Action Sports,
Heelys®, Caribbean Joe® and Ellen Tracy®. Sequential seeks to
ensure that its brands continue to thrive and grow by employing
strong brand management, design and marketing
teams. Sequential has licensed and intends to license its
brands in a variety of consumer categories to retailers,
wholesalers and distributors in the United States and in certain
international territories. To inquire about licensing
opportunities, please email: newbusiness@sbg-ny.com.
Forward-Looking Statements
Certain statements in this press release and oral statements
made from time to time by representatives of the Company are
forward-looking statements ("forward-looking statements") that
involve risks and uncertainties. For this purpose, any
statements contained in this press release that are not statements
of historical fact may be deemed to be forward-looking
statements. When used in this press release and in documents
referenced herein, forward-looking statements include, without
limitation, statements regarding our expectations, beliefs or
intentions that are signified by terminology such as "subject to,"
"believes," "anticipates," "plans," "expects," "intends,"
"estimates," "may," "will," "should," "can," the negatives thereof,
variations thereon and similar expressions. Such
forward-looking statements reflect the Company's current views with
respect to future events, based on what the Company believes are
reasonable assumptions; however, such statements are subject to
certain risks, uncertainties and other factors. Our actual
results may differ materially from those anticipated in any
forward-looking statements due to known and unknown risks,
uncertainties and other factors. The section entitled "Risk
Factors" set forth in Item 1A of Part I of our Annual Report on
Form 10-K for the year ended December 31, 2012, in Item 1A of Part
II of our Quarterly Report on Form 10-Q for the quarterly period
ended March 31, 2013 and in similar discussions in our other
Securities and Exchange Commission filings, discuss some of the
important risks, uncertainties and other factors that may affect
our business, results of operations and financial
condition. The Company's stockholders are urged to consider
such risks, uncertainties and factors carefully in evaluating the
forward-looking statements and are cautioned not to place undue
reliance on such forward-looking statements. Forward-looking
statements are not, and should not be relied upon as, a guarantee
of future performance or results, nor will they necessarily prove
to be accurate indications of the times at or by which any such
performance or results will be achieved. As a result, actual
outcomes and results may differ materially from those expressed in
forward-looking statements. The Company is under no obligation
to, and expressly disclaims any such obligation to, update or alter
its forward-looking statements, whether as a result of new
information, future events or otherwise.
CONTACT: Sequential Brands Group, Inc.
Gary Klein, gklein@sbg-ny.com
Chief Financial Officer
Sequential Brands (NASDAQ:SQBG)
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