Iconix Brand Group, Inc. (Nasdaq: ICON - News) announced the pricing of its previously announced offering by the Company of 9.2 million shares and by certain selling stockholders of 800,000 shares of the Company's common stock, at a price to the public of $15.00 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of its common stock. The offering is being conducted as a public offering pursuant to an effective registration statement under the Securities Act of 1933. The offering is expected to close on June 9, 2009, subject to customary closing conditions.
The Company expects to receive net proceeds from the offering of approximately $131.4 million (or approximately $152.9 million if the underwriters exercise their option to purchase additional shares in full), after deducting estimated underwriting discounts and commissions and offering expenses. The Company intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, funding acquisitions.
Barclays Capital Inc. and Lazard Capital Markets LLC are acting as joint book-running managers for the offering, with Credit Suisse Securities (USA) LLC acting as the co-manager for the offering.
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