Xcel Brands raises $2.1M in public offering and $288K insider private placement at $0.65/$0.98 per share

XCel Brands, Inc.

Firm commitment offering of 3,284,421 shares at $0.65/share, gross proceeds $2,134,874.
Net proceeds expected ~$1,750,000; used for working capital and general corporate purposes.
CEO Robert D'Loren, Director DiSanto, EVP Burroughs buy 294,642 shares at $0.98/share in private placement.
Craig-Hallum receives warrants to purchase 178,953 shares at $0.8125, exercisable after 180 days for 4.5 years.
Lock-up agreements for directors/executives for 60 days from March 19, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

XCel Brands, Inc. entered into Underwriting Agreement with Craig-Hallum Capital Group LLC, as representative of the underwriters valued at approximately $1,750,000 (effective 2024-03-15).

Action: entry
Agreement: underwriting
Counterparty: Craig-Hallum Capital Group LLC, as representative of the underwriters
Value: approximately $1,750,000
Effective: 2024-03-15

Exact text from the filing

On March 15, 2024, Xcel Brands, Inc. (the “Registrant”) entered into an underwriting agreement (the “Underwriting Agreement”) with Craig-Hallum Capital Group LLC (the “Representative”), as the representative of the underwriters named therein (the “Underwriters”), relating to a firm commitment underwritten public offering (the “Offering”) of 3,284,421 shares (the “Shares”) of the Registrant’s common stock, par value $0.001 per share (“Common Stock”) at a price to the public of $0.65 per Share.

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290 material agreements filed in the last 30 days. Browse all material agreements →

XCel Brands, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-036225

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