P-180 acquires 65% stake in Vince Holding for ~$19.8M; debt reduced by $27M

VINCE HOLDING CORP.

P-180 acquired 8,481,318 shares (65%) from Sun Capital affiliates for ~$19.8M cash.
Debt reduced by ~$27M: $15M ABL-funded paydown (applied to $20M sub-debt) and $7M forgiveness; $7.5M remains.
Brendan Hoffman expected to become CEO effective on or around February 3, 2025; David Stefko steps down as interim CEO.
Goodwill impairment testing triggered by change in control; potential non-cash charge may negatively impact results.
Bylaws amended to give P-180 right to designate majority of Board, Chairman, and committee chairs while ownership >=30%.

item 1.01 item 1.02 item 2.03 item 5.01 item 5.02 item 5.03 item 7.01 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed (interim)

David Stefko

Interim Chief Executive Officer

VNCE · VINCE HOLDING CORP.

Effective: 2025-02-03
Successor: Brendan Hoffman
Filed: January 22, 2025, 6:59 PM ET

David Stefko, a member of the Board currently serving as the Company’s Interim Chief Executive Officer, will step down as Interim Chief Executive Officer at that time.

Departed

Matthew Garff

Director

VNCE · VINCE HOLDING CORP.

Effective: 2025-01-22
Filed: January 22, 2025, 6:59 PM ET

Matthew Garff resigned from the Company’s Board of Directors (the “Board”), including all committees thereof on which he served.

Appointed

Brendan Hoffman

Chief Executive Officer

VNCE · VINCE HOLDING CORP.

Effective: 2025-02-03
Filed: January 22, 2025, 6:59 PM ET

Brendan Hoffman, co-founder and co-CEO of P-180, Inc., age 56, is expected to be appointed as the Company’s Chief Executive Officer effective on or around February 3, 2025, subject to mutual agreement on the terms of his employment.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David Stefko departed as Interim Chief Executive Officer at VINCE HOLDING CORP..

Action: stepped down
Role: Interim Chief Executive Officer

Exact text from the filing

David Stefko, a member of the Board currently serving as the Company’s Interim Chief Executive Officer, will step down as Interim Chief Executive Officer at that time.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Matthew Garff resigned as Director at VINCE HOLDING CORP..

Action: resigned
Role: Director

Exact text from the filing

Matthew Garff resigned from the Company’s Board of Directors (the “Board”), including all committees thereof on which he served.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Brendan Hoffman was appointed as Chief Executive Officer at VINCE HOLDING CORP..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Brendan Hoffman, co-founder and co-CEO of P-180, Inc., age 56, is expected to be appointed as the Company’s Chief Executive Officer effective on or around February 3, 2025, subject to mutual agreement on the terms of his employment.

View on SEC.gov

VINCE HOLDING CORP. filing history →

Source: SEC EDGAR

accession 0000950170-25-007775

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.