dELiA*s (DLIA) Prices $13.7M Common Stock Offering
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dELiA*s, Inc. (Nasdaq: DLIA) announced the pricing of its previously announced underwritten public offering (the “Offering”) with gross proceeds to the Company expected to be approximately $13.7 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The Offering is expected to close on or about July 31, 2013, subject to the satisfaction of customary closing conditions.
The Company anticipates using the net proceeds from the Offering for the repayment of a portion of the outstanding amounts under its existing Credit Agreement with Salus Capital Partners, LLC and for working capital and other general corporate purposes.
The Offering consists of 13,065,453 shares of common stock of the Company (the “Common Stock”) offered at a price to the public of $1.05 per share.
Pursuant to the terms of an underwriting agreement entered into by the underwriters and the Company, the underwriters also have the option to purchase an additional 1,959,817 shares of Common Stock at a purchase price of $1.05 per share for an additional 30 days after the date of the prospectus supplement.
Janney Montgomery Scott LLC is acting as sole book-running manager for the Offering.
The Company anticipates using the net proceeds from the Offering for the repayment of a portion of the outstanding amounts under its existing Credit Agreement with Salus Capital Partners, LLC and for working capital and other general corporate purposes.
The Offering consists of 13,065,453 shares of common stock of the Company (the “Common Stock”) offered at a price to the public of $1.05 per share.
Pursuant to the terms of an underwriting agreement entered into by the underwriters and the Company, the underwriters also have the option to purchase an additional 1,959,817 shares of Common Stock at a purchase price of $1.05 per share for an additional 30 days after the date of the prospectus supplement.
Janney Montgomery Scott LLC is acting as sole book-running manager for the Offering.
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