Xcel Brands closes $2.05M PIPE; CEO invests $100K alongside investors

XCel Brands, Inc.

Gross proceeds $2.05M from 977,592 shares and 692,463 pre-funded warrants at $1.2275 each; net ~$1.75M.
Warrants issued to purchase 835,023 shares at $3.00, expiring in 5 years.
CEO Robert D'Loren bought 81,466 shares and 40,733 warrants for $100,000.
Proceeds for working capital; 60-day lockup on further equity sales.
Wellington Shields acted as placement agent, earning 8% fee and warrants for 66,802 shares.

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