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Cole Sets Offering of 1.86 Million Shares

NEW YORK -- Kenneth Cole Productions plans a public offering of 1.86 million class A shares of common stock expected to come to market at $14 a share.<BR><BR>Of the offering, 170,572 shares will be sold by Kenneth Cole, president and chief executive...

NEW YORK — Kenneth Cole Productions plans a public offering of 1.86 million class A shares of common stock expected to come to market at $14 a share.

Of the offering, 170,572 shares will be sold by Kenneth Cole, president and chief executive officer. The company plans to sell 1.6 million shares, with the rest to be sold by other shareholders.

Proceeds to the company will be used to repay debt, finance new retail stores and for general purposes.

After the offering, filed with the Securities and Exchange Commission, the company would have outstanding 2.9 million class A shares, with one vote each, and 3.5 million class B shares with 10 votes each.

Cole designs and markets footwear, handbags and other accessories.