NEW YORK, June 20 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc. (Nasdaq: ICON) today announced the closing of its offering of $287.5 million aggregate principal amount of 1.875% Convertible Senior Subordinated Notes due 2012 (the "Notes") in an offering pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Company recently had announced the pricing of $250 million aggregate principal amount of the Notes, subsequent to which, in connection with the closing, the initial purchasers exercised in full their option to acquire an additional $37.5 million of the Notes to cover over-allotments.

The net proceeds to Iconix from the offering were approximately $280 million, after deducting the initial purchasers' discounts and estimated offering expenses.

Iconix used approximately $38.8 million of the net proceeds to fund the net cost of convertible note hedge and warrant transactions that it entered into with affiliates of the initial purchasers. These transactions are intended to offset Iconix' exposure to potential dilution upon conversion of the Notes by increasing the effective conversion price to Iconix from $27.56 to $42.40 and the effective conversion premium from 30% to 100%, based on the last reported sale price of Iconix stock of $21.20 per share on the NASDAQ Global Select Market on June 14, 2007.

Iconix plans to use the remaining net proceeds from the note offering to invest in or acquire new brands through mergers, stock or asset purchases and/or other strategic relationships, although it has no present commitments or agreements with respect to any such investment or acquisition, and for general corporate purposes.

Certain statements and information included in this release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Iconix to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Important factors that could cause actual results to differ materially from the results expressed or implied in such forward looking statements include the risk that the notes offering is not timely consummated or is not consummated at all. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in Iconix' Annual Report on Form 10-K for the fiscal year ended December 31, 2006 and the other documents Iconix files with the SEC from time to time. Iconix undertakes no duty to update its forward-looking statements.

    Contact:
    Warren Clamen
    Chief Financial Officer
    Iconix Brand Group, Inc.
    212-730-0030

SOURCE  Iconix Brand Group, Inc.
    -0-                             06/20/2007
    /CONTACT:  Warren Clamen, Chief Financial Officer of Iconix Brand Group,
Inc., +1-212-730-0030/
    /Web site:  http://iconixbrand.com /
    (ICON)

CO:  Iconix Brand Group, Inc.
ST:  New York
IN:  ADV
SU:  OFR

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1747 06/20/2007 12:21 EDT http://www.prnewswire.com