dELiA*s, Inc. (NASDAQ: DLIA) (the “Company”), a multi-channel retail company primarily marketing to teenage girls, today announced the pricing of its previously announced underwritten public offering (the “Offering”) with gross proceeds to the Company expected to be approximately $13.7 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The Offering is expected to close on or about July 31, 2013, subject to the satisfaction of customary closing conditions.
The Company anticipates using the net proceeds from the Offering for the repayment of a portion of the outstanding amounts under its existing Credit Agreement with Salus Capital Partners, LLC and for working capital and other general corporate purposes.
The Offering consists of 13,065,453 shares of common stock of the Company (the “Common Stock”) offered at a price to the public of $1.05 per share.
Pursuant to the terms of an underwriting agreement entered into by the underwriters and the Company, the underwriters also have the option to purchase an additional 1,959,817 shares of Common Stock at a purchase price of $1.05 per share for an additional 30 days after the date of the prospectus supplement.Janney Montgomery Scott LLC is acting as sole book-running manager for the Offering. The securities described above are being offered by the Company pursuant to a shelf registration statement on Form S-3 (Registration No. 333-182236), including a base prospectus dated September 7, 2012, previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement related to the Offering has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying base prospectus relating to this Offering, when available, may be obtained from the SEC's website located at http://www.sec.gov or from Janney Montgomery Scott LLC, 60 State Street, Boston, MA 02109, Attention: Equity Syndicate Department or via email at firstname.lastname@example.org. 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.