Xcel Brands, Inc. Announces Pricing of $2.42 Million Public Offering of Common Stock and Concurrent Private Placement
NEW YORK, March 15, 2024 (GLOBE NEWSWIRE) — Xcel Brands, Inc. (“Xcel”; NASDAQ:XELB), a media and consumer products company engaged in the design, licensing, marketing, live streaming and social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and consumer products, and the acquisition of dynamic consumer lifestyle brands, today announced the pricing of its previously announced underwritten public offering of shares of its common stock. All of the shares of common stock are being sold at a public offering price of $0.65 per share, for gross proceeds of $2,134,874, before underwriting discounts and commissions and offering expenses, and included participation from members of Xcel’s management. The offering is expected to close on or about March 19, 2024. Additionally, members of Xcel management, including Robert D’Loren, Xcel’s Chairman, Chief Executive Officer and President, have executed subscription agreements to purchase 294,642 shares of common stock from Xcel in a private placement for an aggregate purchase price of $288,749 at $0.98 per share, the consolidated closing bid price of the common stock on March 14, 2024