Children's Place (PLCE) said Tuesday it has started its rights offering to buy up to $90 million in shares, representing about 9.2 million shares in total.
The firm said it is offering to each stockholder of record date Dec. 13 one non-transferable subscription right for each full share owned at $9.75 per share. The rights offering subscription period will expire on Jan. 31, unless extended.
Proceeds from the rights offering will be used to make a prepayment of its debt and for general operating, working capital and other purposes, it said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.