By  on May 24, 2012

Frederick’s of Hollywood Group Inc. got itself some breathing room.

The company sold $5 million of convertible preferred stock to TTG Apparel, an investment firm run by Michael Tokarz, who now controls about a quarter of the company’s shares. The preferred stock is convertible into 4.8 million shares of the company’s common stock at a conversion price of $1.05 a share.

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