Everlast (NASDAQ:EVST)
Historical Stock Chart
From Jun 2019 to Jun 2024
Everlast® Worldwide Inc. (Nasdaq: EVST)
announced today that it filed a registration statement with the
Securities and Exchange Commission for a proposed underwritten public
offering of $33 million of common stock offered by the company, as well
as additional shares to be offered by certain selling stockholders. In
addition, the underwriters have been granted a 30-day option to purchase
up to an additional $4.95 million of common stock from the company to
cover over-allotments, if any. The proceeds to the company from the
offering will be used to pay down obligations under the company’s
(a) senior term facility with Wells Fargo, Century, Inc.; (b) mortgage
on its Missouri manufacturing and distribution facility; and (c) amounts
outstanding under the factoring agreement with Wells Fargo. The company
intends to apply the balance of the net proceeds, if any, for working
capital and general corporate purposes. The company will not receive any
proceeds from the sale of shares by the selling stockholders.
Piper Jaffray & Co. will be sole book-running manager for the offering.
When available, copies of the prospectus may be obtained from the
Prospectus Department at Piper Jaffray & Co., 800 Nicollet Mall,
Minneapolis, MN 55402.
A registration statement relating to these securities has been filed
with the Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be
accepted prior to the time that the registration statement becomes
effective. This news release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Everlast Worldwide Inc.
Everlast Worldwide Inc. is a leading designer, manufacturer and marketer
of boxing and fitness related sporting goods equipment under the
well-recognized Everlast brand name and a worldwide licensor of the
Everlast brand for apparel, footwear, sporting goods equipment and other
active lifestyle products and accessories. Since 1910, Everlast has been
the preeminent brand in the world of boxing and among the most
recognized brands in the overall sporting goods and apparel industries.
In order to capitalize on the rich heritage and authenticity of the
Everlast brand, the company has extended the Everlast brand outside of
the boxing ring into complementary product categories. Our strategy is
to continue to leverage the unique qualities represented by the Everlast
brand — Strength, Dedication, Individuality
and Authenticity — to become a leading global
athletic brand and a necessary part of the lives of consumers who train,
compete and live an active lifestyle.
Statements made in this Press Release that state the intentions,
beliefs, expectations or predictions of Everlast Worldwide, Inc. and its
management for the future are forward-looking statements. It is
important to note that actual results could differ materially from those
projected in such forward-looking statements. Information concerning
factors that could cause actual results to differ materially from those
in forward-looking statements is contained from time to time in filings
of Everlast Worldwide with the U.S. Securities and Exchange Commission,
including the annual report on Form 10-K under the heading “Risk
Factors.” Copies of these filings may be
obtained by contacting Everlast Worldwide or the SEC.