Benzinga | Jan 28, 2021 05:59AM EST

Naked Brand Priced ~29.4M Shares Registered Direct Offering Priced At-The-Market @$1.70/Share

Naked Brand Group Limited (NASDAQ:NAKD) announced that it has entered into securities purchase agreements with certain institutional investors for the issuance and sale of 29,415,000 of its ordinary shares at a price of $1.70 per share, for aggregate gross proceeds of approximately $50 million, in a registered direct offering priced at-the-market under Nasdaq rules.

Maxim Group LLC is acting as the sole placement agent for the offering.

The offering is expected to close on or about February 1, 2021, subject to the satisfaction of customary closing conditions.