- Iconix Brand Group (NASDAQ:ICON) announces that it has entered into additional agreements with holders of 1.5% convertible senior subordinated notes due in 2018 to increase the principal amount of the notes participating in the private exchange to $125M from $110M.
- The company expects to settle the private exchange on or about February 22, 2018.
- CEO update: "We are pleased to announce the additional exchange transactions and the increased amount of notes being exchanged. As we previously highlighted, these exchange transactions are part of the Company's strategy to satisfy near-term debt obligations and represent a positive step in improving our balance sheet. As a result, we remain positioned to finalize the solution for the balance of our upcoming debt obligations."
- Source: Press Release