NEW YORK, July 31, 2015 (GLOBE NEWSWIRE) -- Xcel Brands, Inc. (NASDAQ:XELB) ("Xcel" or the "Company"), a brand development and media company, today announced the pricing of an underwritten public offering of 1,800,000 shares of its common stock at a price of $9.00 per share. All of the shares are being sold by Xcel. The gross proceeds to Xcel are expected to be $16,200,000, before underwriting discounts and commissions and other offering expenses. In addition, the Company has granted the underwriters an option to purchase up to an additional 270,000 shares of common stock. The shares are expected to begin trading on the Nasdaq Global Market under the symbol "XELB" today. The closing of the offering is expected to occur on August 4, 2015, subject to customary closing conditions.
Wunderlich is serving as the sole book-running manager for the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on July 30, 2015. This offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained by contacting: Wunderlich Securities, Inc., Attention: Equity Syndicate, 6000 Poplar Avenue, Suite 150, Memphis, TN 38119, or by email at firstname.lastname@example.org.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Xcel Brands
Xcel Brands, Inc. is a brand development and media company engaged in the design, licensing, marketing and direct-to-consumer sales of branded apparel, footwear, accessories, jewelry, home goods, and other consumer products, and the acquisition of additional consumer high profile consumer lifestyle brands. Xcel was founded by Robert W. D'Loren in 2011 with a vision to reimagine shopping, entertainment and social as one. Xcel owns and manages the Isaac Mizrahi, Judith Ripka and H Halston brands, pioneering an omnichannel sales strategy which includes the promotion and sale of products under its brands through direct-response television, internet, brick and mortar retail, and e-commerce channels. Xcel also designs and distributes the Liz Claiborne New York brand which is sold exclusively through QVC. Headquartered in New York City, Xcel Brands is led by an executive team with significant retailing, licensing, design, and marketing experience, and a proven track record of success in elevating branded consumer products companies. With a team of over 50 designers and social media focused marketing executives, Xcel maintains control of product quality and promotion across all of its licensed product categories and distribution channels. Xcel differentiates by design. www.xcelbrands.com.
CONTACT: For further information please contact: For media inquiries: Jaclyn Smith Media Specialist Lividini & Co. 646-443-2063 email@example.com Shanleigh Philip Assistant Manager of Public Relations Xcel Brands, Inc. 347-727-2483 firstname.lastname@example.org For investor relations inquiries: Hunter Wells / John Mills ICR 646-277-1246 Hunter.email@example.com / John.firstname.lastname@example.orgSource:Xcel Brands