Casual Male (CMRG) To Sell 4.95M Shares
Casual Male Retail Group, Inc. (Nasdaq: CMRG) agreed to sell 4,950,000 shares of common stock to certain institutional investors.
Casual Male has entered into definitive agreements to sell the shares of its common stock through a registered direct offering at a price of $2.75 per share for gross proceeds of approximately $13.6 million. The Company intends to use the net proceeds of approximately $12.6 million from this offering for general corporate purposes, including the repayment of indebtedness.
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