Vince Holding to Conduct Rights Offering.. Again

07/05/2017

NEW YORK–(BUSINESS WIRE)– Vince Holding Corp. (NYSE:VNCE), a leading global luxury apparel and accessories brand (“Vince” or the “Company”), today announced that it has filed a registration statement on Form S-3, including a preliminary prospectus, with the Securities and Exchange Commission (the “SEC”) for a proposed rights offering to existing stockholders (the “Rights Offering”).

Under the proposed Rights Offering, the Company would distribute non-transferrable subscription rights to its existing stockholders as of the record date to be determined, which would entitle the stockholders to purchase additional shares of the Company’s common stock on a pro rata basis. As previously announced, Sun Capital Partners V, L.P., an affiliate of Sun Capital Partners, Inc., has agreed to enter into an investment agreement with the Company to backstop the Rights Offering for up to $30 million. As of the date hereof, affiliates of Sun Capital Partners, Inc. hold approximately 58% of the Company’s outstanding common stock.

A registration statement on Form S-3 relating to the Rights Offering has been filed with the SEC by the Company but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The Rights Offering, which is expected to commence following the effectiveness of the registration statement, will only be made by means of a prospectus. A preliminary prospectus relating to and describing the proposed terms of the rights offering has been filed with the SEC as a part of the registration statement and is available on the SEC’s web site at http://www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

 


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