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iMedia Brands To Raise $75M Via Debt Offering

Benzinga · 09/24/2021 08:18
  • iMedia Brands Inc (NASDAQ:IMBI) has priced the underwritten public offering of $75.0 million of 8.50% senior notes due 2026.
  • The company has granted the underwriters a 30-day option to purchase up to an additional $5.0 million of Notes.
  • The offering is expected to close on or about September 28, 2021.
  • The Notes will pay quarterly interest beginning on December 31, 2021, at a rate of 8.50% per year, and will mature on September 30, 2026.
  • iMedia Brands intends to use net proceeds to fund the closing cash purchase price for the acquisition of 1-2-3.tv Group.
  • Price Action: IMBI shares closed higher by 2.48% at $5.79 on Thursday.