68.9 F
New York
Thursday, June 30, 2022

Iconix Brand [NASDAQ: ICON] to be Acquired by Iconix Acquisition Corp

Must read

Iconix Brand Group, Inc. [NASDAQ: ICON] disclosed that it has inked an agreement and plan of merger with Iconix Acquisition Corp. Iconix Brand Group is to be purchased by Iconix Acquisition Corp. in an all-cash deal that values Iconix at nearly $585 million including net debt.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free.


The latest declaration signifies the end of a year-long analysis by its Board about strategic options for the firm. Additionally, the Board decided that the deal with Lancer offers the best value for its stockholders after a comprehensive analysis of all options. The firm is projecting that Iconix will continue developing its brands and backing its partners as a private firm.

Additionally, the buyer will start a tender offer to buy all of the outstanding shares of Iconix’s common stock. The price of the stock will be set at $3.15 per share. It is dependent on the conditions of the deal. The offer price per share of common stock signifies a premium of 28.6% over Iconix’s closing share price on June 10, 2021. June 10 was the last trading day before the declaration. It is a percentage of nearly 46.5% over the 30-day average volume weighted share price for the period completed June 10, 2021.

The Board of directors of Iconix has agreed to accept the deal. The directors defined this deal as the best option for the firm. The shares not tendered in the offer will be purchased in a second-step merger. Additionally, they will be purchased at the same cash price as paid in the offer. Hence, after the execution of the deal, Iconix will become a private firm. Iconix currently anticipates the deal to execute before the end of the third quarter of 2021.

More articles

Latest article



Download Free eBook For

The 5 Best Growth Stocks 2022

100% free. stop anytime no spam