NEW YORK — Wilsons The Leather Experts Inc. is negotiating the terms of a proposed agreement that would allow it to raise $35 million in exchange for a 49 percent equity stake in the company.
Under the proposal, Wilsons would issue 3,500 shares of its series “A” preferred stock to two institutional investors. Each share would be priced at $10,000. But at the transaction’s closing, the preferred shares would be convertible immediately into shares of the company’s common stock at a conversion price of $1.69 per share.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)