Xcel Brands Announces $2.05 Million Private Placement

Core Viewpoint - Xcel Brands, Inc. has announced a private investment in public equity (PIPE) financing expected to generate approximately $2.05 million in gross proceeds, which will be used for general corporate purposes and working capital [1]. Group 1: Financing Details - The company is selling 1,670,055 shares of common stock and common stock purchase warrants to purchase up to 835,023 shares at a price of $1.2275 per share [2]. - The warrants are exercisable at an exercise price of $3.00 per share and will expire five years from the date of issuance [2]. Group 2: Regulatory Information - The securities offered in the PIPE financing are unregistered and were offered under Section 4(a)(2) of the Securities Act of 1933 and Regulation D [4]. - The company has agreed to file registration statements with the SEC for the resale of the unregistered shares and shares issuable upon exercise of the warrants [4]. Group 3: Company Overview - Xcel Brands, Inc. is a media and consumer products company involved in the design, licensing, marketing, and sales of various consumer products, including apparel and home goods [6]. - The company has generated over $5 billion in retail sales through livestreaming and digital channels and has a brand portfolio that reaches over 46 million social media followers [6].