Designer Brands to repurchase up to $100M of common shares via Dutch auction at $7-$8/share

Designer Brands Inc.

Buyback represents ~22-25% of outstanding Class A shares; funded by new $135M term loan.
Tender offer runs June 8 to July 7, 2023; price range $7.00-$8.00 per share.
CEO Doug Howe cites belief in long-term value and attractive stock prices.
Executive officers and directors, including Executive Chairman Schottenstein, will not tender shares.
BofA Securities and BMO Capital Markets act as dealer managers; Centerview Partners as financial advisor.

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