Vince expects to receive proceeds, net of underwriters’ discount and commissions and estimated offering expenses payable by Vince, of approximately $177 million from the offering.
Vince intends to retain approximately $5.0 million of such net proceeds for general corporate purposes and expects to use the remaining net proceeds, together with borrowings under its new senior credit facility, to repay all of its outstanding borrowings and other amounts owed under its existing credit facilities.
The underwriters have a 30-day option to purchase up to an additional 1,500,000 shares from affiliates of Sun Capital Partners, Inc. (the “Selling Stockholders”). Vince will not receive any proceeds from the sale of shares by the Selling Stockholders.
Goldman, Sachs & Co. and Robert W. Baird & Co. Incorporated are acting as joint book-running managers of the offering, and Goldman, Sachs & Co. and Robert W. Baird & Co. Incorporated are the representatives of the underwriters. In addition, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are joint bookrunning managers in the offering.
ABOUT VINCE
Founded in 2002, Vince is a prominent fashion brand known for its modern effortless style and everyday luxury essentials. The company offers a broad range of women’s and men’s ready-to-wear including its signature cashmere sweaters, leather jackets, luxe leggings, dresses, silk and woven tops, denim and footwear. Vince is carried in over 2,100 stores across 43 countries and operates 21 full-price retail locations, 6 outlet stores and its e-commerce site.
Vince Holding
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