Xcel Brands Prices $2.42 Mln Public Offering Of Shares And Concurrent Private Placement

(RTTNews) - Xcel Brands, Inc. (XELB), a media and consumer products company, Friday priced its previously announced public offering and concurrent private placement of $2.42 million.

The shares will be offered at $0.65 per share, for gross proceeds of $2.134 million. The offering is expected to be closed on or about March 19.

In addition, members of Xcel management, including CEO Robert D'Loren have executed subscription agreements to purchase 294,642 shares from Xcel in a private placement for a total price of $288,749 at $0.98 per share.

Craig-Hallum Capital Group LLC is working as the sole managing underwriter for the offering.

XELB was trading down by 27.04 percent at $0.715 in the pre-market trade on the Nasdaq.