VINCE HOLDING CORP. (VNCE): M&A transaction — Vince completes asset sale to Authentic Brands for $76.5M cash and 25% stake

business operated under the VINCE brand of Seller to Buyer in exchange for Buyer paying to Seller aggregate consideration consisting of (i) Buyer making a cash payment equal to $76.5 million and (ii) Buyer issuing units of Buyer to Seller representing a 25% ownership stake in Buyer (the “Seller Units”) (the “Asset Sale”). The Asset Sale was consummated in accordance

On May 25, 2023, in connection with the Closing, Seller and Buyer entered into a License Agreement (the “License Agreement”), which provides Vince with a license to use the Licensed Property (as defined in the License Agreement).

On May 25, 2023, in connection with the closing (the “Closing”) of the Asset Sale (defined below) pursuant to the Intellectual Property Asset Purchase Agreement (the “Asset Purchase Agreement”), dated as of April 21, 2023, by and among Vince, LLC, a Delaware limited liability company (“Vince” or “Seller”) and a wholly owned indirect subsidiary of Vince Holding Corp., a Delaware corporation (the “Company”), ABG-Vince LLC (f/k/a ABG-Viking, LLC) (“Buyer”), and an indirect subsidiary of Authentic Brands Group, LLC, a Delaware corporation, the Company and ABG Intermediate Holdings 2 LLC, Seller and Buyer entered into an Amended and Restated Limited Liability Company Agreement of ABG-Vince, LLC (the “Operating Agreement”)