Fossil Group, Inc. (FOSL): debt financing — Fossil Group completes debt restructuring; $150M old notes cancelled, new notes and warrants issued

Fossil Group, Inc.

All $150M outstanding 7.00% Senior Notes due 2026 cancelled; replaced with 9.500% First-Out Notes due 2029 and 7.500% Second-Out Notes due 2029.
New money participants invested $32.5M cash, receiving $32.5M First-Out Notes and 954,070 common shares.
Supporting holders received $1.625M First-Out Notes as backstop premium; ~3M warrants issued exercisable at $0.50/share until Dec 15, 2025.
Non-new money participants exchanged $29.8M old notes for Second-Out Notes; consent premium of $53,858 Second-Out Notes paid.
ABL credit agreement amended; intercreditor agreements executed governing lien priorities among ABL, First-Out, and Second-Out lenders.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Fossil Group, Inc. incurred senior notes of $32,500,000 aggregate principal amount of 9.500% First-Out First Lien Secured Senior Notes due 2029 with Wilmington Trust, National Association at 9.500% maturing January 1, 2029.

Instrument: senior notes
Principal: $32,500,000 aggregate principal amount of 9.500% First-Out First Lien Secured Senior Notes due 2029
Counterparty: Wilmington Trust, National Association
Rate: 9.500%
Maturity: January 1, 2029
Event: incurrence

Exact text from the filing

Noteholders that participated in the Rights Offering and Exchange Offer (the “New Money Participants”) (i) provided an aggregate of $32,500,000 of incremental, new money financing in exchange for (x) $32,500,000 aggregate principal amount of 9.500% First-Out First Lien Secured Senior Notes due 2029 (the “First-Out Notes")

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Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Fossil Group, Inc. issued 792,772 shares of Common Stock of common stock to Supporting Holders.

Security: common stock
Shares: 792,772 shares of Common Stock
Purchaser: Supporting Holders

Exact text from the filing

the Company issued 792,772 shares of Common Stock and 1,897,073 Warrants to the Supporting Holders on a private placement basis

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Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Fossil Group, Inc. issued 1,897,073 Warrants of warrant to Supporting Holders.

Security: warrant
Shares: 1,897,073 Warrants
Purchaser: Supporting Holders

Exact text from the filing

the Company issued 792,772 shares of Common Stock and 1,897,073 Warrants to the Supporting Holders on a private placement basis

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10 debt financings filed in the last 30 days. Browse all debt financings →

Fossil Group, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-280531

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