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Fossil Announces Intention to Proceed with the UK Proceeding and Extension of Exchange Offer for Its Senior Notes
Globenewswire· 2025-10-23 10:00
Core Points - Fossil Group, Inc. announced the successful receipt of requisite consents for the UK Proceeding Amendments related to its 7.00% Senior Notes due 2026, allowing the company to proceed with an English law restructuring plan [1] - The company received 82.67% of valid tenders for the exchange offer but did not meet the minimum requirement of 90%, leading to an extension of the expiration date for the Exchange Offer, Consent Solicitation, and Rights Offering to November 10, 2025 [2][4] - The principal amount of Old Notes tendered includes $118,017,000 from New Money Participants (78.68%) and $5,993,125 from Non-New Money Participants (4.00%), totaling $124,010,125 [4] Company Actions - The company executed a supplemental indenture to the Old Notes Indenture, changing the governing law to the laws of England and Wales as part of the restructuring process [1] - The company has filed registration statements with the SEC in connection with the Exchange Offer, Consent Solicitation, and Rights Offering, which include a prospectus dated September 25, 2025 [4][5] Future Considerations - The company reserves the right to terminate, withdraw, amend, or further extend the Exchange Offer, Consent Solicitation, and Rights Offering independently at any time [2]
Fossil Announces Further Extension of Exchange Offer for Its Senior Notes
Globenewswire· 2025-10-16 10:00
Core Viewpoint - Fossil Group, Inc. has extended the expiration date for its Exchange Offer, Consent Solicitation, and Rights Offering related to its 7.00% Senior Notes due 2026 from October 15, 2025, to October 22, 2025, while proceeding with the UK Proceeding as scheduled [2][5][6] Exchange Offer and Consent Solicitation - The principal amount of Old Notes tendered in the Exchange Offer as of October 15, 2025, is $113,057,875, representing 75.37% of the total $150,000,000 [4] - The breakdown of the tendered amounts includes $106,870,250 from New Money participants (71.25%) and $6,187,625 from Non-New Money participants (4.13%) [4] UK Proceeding - A hearing on October 15, 2025, resulted in the approval for Fossil (UK) Global Services Ltd. to convene a meeting of Old Notes holders to vote on the UK Proceeding [5] - The Plan Meeting is scheduled for November 6, 2025, and requires a 75% majority by value of those present and voting for approval [6] Media Report Statement - The company acknowledges a media report regarding a potential IPO of a subsidiary in India but clarifies that it is not currently pursuing such an offering [7][8]
Fossil Announces Extension of Exchange Offer For Its Senior Notes
Globenewswire· 2025-10-08 12:30
Core Points - Fossil Group, Inc. has extended the expiration date for its Exchange Offer, Consent Solicitation, and Rights Offering from October 7, 2025, to October 15, 2025 [1] - The company plans to proceed with the UK Proceeding as previously scheduled, including a Convening Hearing on October 15, 2025 [1] - The principal amount of Old Notes tendered in the Exchange Offer is $107,920,500, representing 71.95% of the total $150,000,000 outstanding [2][3] Exchange Offer Details - The Exchange Offer includes 7.00% Senior Notes due 2026, with $102,078,075 tendered by New Money Participants, accounting for 68.05% of the total [3] - Non-New Money Participants tendered $5,842,425, which is 3.90% of the total [3] - The company reserves the right to terminate, withdraw, amend, or further extend the Exchange Offer, Consent Solicitation, and Rights Offering independently at any time [1] Registration Statements - Fossil Group has filed registration statements on Form S-3 and Form S-4 with the SEC in connection with the Exchange Offer, Consent Solicitation, and Rights Offering [3] - Investors are encouraged to read the prospectus dated September 25, 2025, for complete information about the company and the offerings [3]