Xcel Brands, Inc, a company specialized in media and consumer products, has set a price for its public offering and concurrent private placement, amounting to $2.42 million. The shares are positioned at $0.65 each, which brings the gross proceeds to a total of $2.134 million. The close of this offer is projected to happen around March 19.
In addition to this, Xcel's management team, including CEO Robert D'Loren, have confirmed their intent to purchase 294,642 shares directly from Xcel through a private placement. This purchase is valued at $288,749, calculated at $0.98 per share.
For this offering, Craig-Hallum Capital Group LLC is acting as the exclusive managing underwriter.
However, ahead of the market opening on the Nasdaq, XELB's trading fell by 27.04 percent, standing at $0.715.
