Byline: Jennifer Owens

WASHINGTON — Retrospettiva Inc. plans to generate $6 million for fabric and equipment in an initial public offering involving 1 million shares and warrants for 500,000 more.
According to a Securities and Exchange Commission filing, the women’s apparel manufacturer, based in Beverly Hills, Calif., will sell 500,000 units, each consisting of two shares and one five-year warrant for $12 per unit. Each warrant will give the holder the right to buy one share for $7.50, and if all are exercised an additional $3.75 million would be generated.
From the proceeds of the IPO, the company said it intends to spend $3.4 million on fabric and $700,000 to buy equipment for a factory with which it contracts in Macedonia. The remaining proceeds will be used for working capital and to pay off debt.
In the meantime, Retrospettiva also registered 50,000 shares for sale by Borivoje Vukadinovic, chief executive officer, and 25,000 shares for Michael D. Silberman, chief financial officer. After completion of the sales, Vukadinovic will control stock and options totaling 59.7 percent of the company’s equity, and Silverman, 7 percent.
Founded in 1990 initially to manufacture and import textile products from Italy, Retrospettiva now sources fabric from Macedonia, then contracts out for the manufacture of women’s basic activewear, sportswear and business wear sold under its own labels, Magellan and Retrospettiva, and under private labels.
Retrospettiva’s customers include wholesalers, such as V.S. Sport, Positive Influence and Jeans Collectibles, and retailers, including Dayton Hudson, J.C. Penney, TJ Maxx, Hit or Miss and Casual Corner.
Sales at Retrospettiva grew nearly 40 percent during the six months ended June 30, to $7.9 million from $5.7 million a year ago. Meanwhile, profits for the half rose sharply to $497,282 from $140,902. Retrospettiva said it has not paid dividends since its founding, instead earmarking profits to help build the company.

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