NEW YORK, Dec 13, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Iconix Brand Group, Inc.
("Iconix" or the "Company") (Nasdaq: ICON) announced today the closing of the
public offering of 13,874,750 shares of its common stock at $18.75 per share,
of which 3,090,000 shares were sold by the selling stockholders named in the
prospectus, including Mudd (USA) LLC, Mossimo Giannulli, members of the
Company's senior management team and certain members of the Company's board of
directors. The net proceeds to Iconix, after payment of underwriting
discounts and other estimated expenses of the offering, were approximately
Iconix intends to use the net proceeds for debt repayment and general
corporate purposes. Iconix did not receive any proceeds from the shares sold
by the selling stockholders. The total number of shares sold included
1,809,750 shares of common stock (1,409,750 shares from the Company and
400,000 shares from certain of the selling stockholders) sold in connection
with the full exercise of the over-allotment option granted to the
Merrill Lynch & Co. and Lehman Brothers acted as joint bookrunning
managers for the offering, with Lazard Capital Markets, Piper Jaffray and
Wachovia Securities acting as co-managers for the offering.
Iconix Brand Group Inc. owns, licenses and markets a growing portfolio of
consumer brands including CANDIE'S(R), BONGO(R), BADGLEY MISCHKA(R), JOE
BOXER(R), RAMPAGE(R), MUDD(R), LONDON FOG(R), MOSSIMO(R) and OCEAN PACIFIC(R).
The Company licenses its brands to a network of leading retailers and
manufacturers that touch every major segment of retail distribution from the
luxury market to the mass market in both the U.S. and around the world.
Iconix, through its in-house advertising, promotion and public relations
agency, markets its brands to continually drive greater consumer awareness and
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995. The statements that are not historical facts contained in this press
release are forward looking statements that involve a number of known and
unknown risks, uncertainties and other factors, all of which are difficult or
impossible to predict and many of which are beyond the control of the Company,
which may cause the actual results, performance or achievements of the Company
to be materially different from any future results, performance or
achievements expressed or implied by such forward looking statements. Such
factors include, but are not limited to, uncertainty regarding the results of
the Company's acquisition of additional licenses, continued market acceptance
of current products and the ability to successfully develop and market new
products particularly in light of rapidly changing fashion trends, the impact
of supply and manufacturing constraints or difficulties relating to the
Company's licensees' dependence on foreign manufacturers and suppliers,
uncertainties relating to customer plans and commitments, the ability of
licensees to successfully market and sell branded products, competition,
uncertainties relating to economic conditions in the markets in which the
Company operates, the ability to hire and retain key personnel, the ability to
obtain capital if required, the risks of litigation and regulatory
proceedings, the risks of uncertainty of trademark protection, the uncertainty
of marketing and licensing acquired trademarks and other risks detailed in the
Company's SEC filings. The words "believe," "anticipate," "expect,"
"confident," "project," provide "guidance" and similar expressions identify
forward-looking statements. Readers are cautioned not to place undue reliance
on these forward looking statements, which speak only as of the date the
statement was made.
Contact: David Conn
Executive Vice President
Iconix Brand Group
Integrated Corporate Relations
SOURCE Iconix Brand Group, Inc.
David Conn, Executive Vice President of Iconix Brand Group, +1-212-730-0030; or
Joseph Teklits of Integrated Corporate Relations, +1-203-682-8200, for Iconix Brand