Simpson Thacher Represents Underwriters in $172.5 Million Public Offering of Iconix Brand Group, Inc. Common Stock
07.13.09
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The Firm represented the underwriters, led by Barclays Capital Inc. and Lazard Capital Markets LLC, in connection with a registered public offering of 11,500,000 shares of Iconix Brand Group, Inc. common stock, including primary shares sold by Iconix and shares sold by certain selling stockholders. The gross proceeds from the offering were approximately $172.5 million, including the proceeds from the shares issued upon the full exercise of the underwriters’ option to purchase additional shares. After accounting for underwriting discounts, Iconix received approximately $152.9 million in net proceeds and the selling stockholders received approximately $11.5 million in net proceeds. Iconix intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, financing acquisitions. Iconix owns, licenses and markets a growing portfolio of consumer brands. Iconix licenses its brands to a network of retailers and manufacturers in both the U.S. and abroad. Its common stock is listed on the NASDAQ Global Market under the symbol “ICON”.
The Simpson Thacher team for the transaction included Ken Wallach, Carol Daniel, Brian Rosenzweig and Tom Aragona (Capital Markets), Jamin Koslowe and Eric Sarabia (Executive Compensation and Employee Benefits), Jonathan Cantor and Rian Balfour (Tax), Jennifer Rackoff (Intellectual Property), Justin Lungstrum and Carla Crawford (Credit) and Andrew Pagliughi (Blue Sky). Paralegals Michael McLaughlin and Michael Davies provided valuable assistance.