NEW YORK--(BUSINESS WIRE)--
Vince Holding Corp., previously known as Apparel Holding Corp.,
announced today the pricing of its initial public offering of 10,000,000
shares of common stock at a price of $20.00 per share. The shares will
be listed on the New York Stock Exchange and will trade under the symbol
“VNCE” beginning November 22, 2013.
Vince expects to receive proceeds, net of underwriters’ discount and
commissions and estimated offering expenses payable by Vince, of
approximately $177 million from the offering. Vince intends to retain
approximately $5.0 million of such net proceeds for general corporate
purposes and expects to use the remaining net proceeds, together with
borrowings under its new senior credit facility, to repay all of its
outstanding borrowings and other amounts owed under its existing credit
facilities. The underwriters have a 30-day option to purchase up to an
additional 1,500,000 shares from affiliates of Sun Capital Partners,
Inc. (the “Selling Stockholders”). Vince will not receive any proceeds
from the sale of shares by the Selling Stockholders.
Goldman, Sachs & Co. and Robert W. Baird & Co. Incorporated are acting
as joint book-running managers of the offering, and Goldman, Sachs & Co.
and Robert W. Baird & Co. Incorporated are the representatives of the
underwriters. In addition, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Barclays Capital Inc., J.P. Morgan Securities LLC and
Wells Fargo Securities, LLC are joint bookrunning managers in the
offering.
A registration statement relating to these securities was declared
effective by the Securities and Exchange Commission on November 21,
2013. The offering is being made solely by means of a prospectus, copies
of which may be obtained from: Goldman, Sachs & Co., Prospectus
Department, 200 West Street, New York, NY, 10282, by calling (866)
471-2526, or by e-mailing prospectus-ny@ny.email.gs.com,
or Robert W. Baird & Co. Incorporated at 777 East Wisconsin Avenue,
Milwaukee, Wisconsin 53202, Attention: Syndicate Department, telephone:
(800) 792-2473 or email: syndicate@rwbaird.com.
Vince provided the New York Stock Exchange (the “NYSE”) with additional
information upon which the NYSE relied to list the common stock. Such
information is included in Vince’s original listing application and is
available to the public upon request.
This press 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 VINCE
Founded in 2002, Vince is a prominent fashion brand known for its modern
effortless style and everyday luxury essentials. The company offers a
broad range of women’s and men’s ready-to-wear including its signature
cashmere sweaters, leather jackets, luxe leggings, dresses, silk and
woven tops, denim and footwear. Vince is carried in over 2,100 stores
across 43 countries and operates 21 full-price retail locations, 6
outlet stores and its e-commerce site, Vince.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements, which are
subject to substantial risks, uncertainties and assumptions. You should
not place reliance on these statements. Forward-looking statements
include information concerning the proposed offering. Forward-looking
statements relate to expectations, beliefs, projections, future plans
and strategies, anticipated events or trends and similar expressions
concerning matters that are not historical facts or present facts or
conditions, such as statements regarding our future financial condition
or results of operations, our prospects and strategies for future
growth, the introduction of new merchandise, and the implementation of
our marketing and branding strategies. In many cases, you can identify
forward-looking statements by terms such as “may,” “will,” “should,”
“expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,”
“potential” or the negative of these terms or other comparable
terminology. Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee that we
will effect an initial public offering. Accordingly, you should not
place undue reliance on these forward-looking statements. All such
statements speak only as of the date made, and we undertake no
obligation to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise.

Source: Vince Holding Corp.