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Knoll, Inc.(NYSE: KNL) today announced the closing of the previously announcedpurchase of$164.0 million in convertible preferred stock by an independently managed subsidiary ofInvestindustrial VII L.P.


GlobeNewswire Inc | Jul 21, 2020 07:25AM EDT

July 21, 2020

EAST GREENVILLE, Pa., July 21, 2020 (GLOBE NEWSWIRE) -- Knoll, Inc.(NYSE: KNL) today announced the closing of the previously announcedpurchase of$164.0 million in convertible preferred stock by an independently managed subsidiary ofInvestindustrial VII L.P.

As previously announced, transaction terms follow:

-- $164.0millionof convertible, perpetual preferred stock, which will be convertible into shares ofKnoll, Inc. common stock at an initial conversion price of$16.75per share. -- The preferred stock carries a 4.50% dividend, which will be payable at Knolls option in cash or in-kind for the first 2 years and payable in cash thereafter.

Knoll expects to use the net proceeds from the transaction for general corporate purposes, including to reduce outstanding borrowings under its credit facility.

About Knoll

Knoll, Inc. is a constellation of design-driven brands and people, working together with our clients to create inspired modern interiors. Our internationally recognized portfolio includes furniture, textiles, leathers, lighting, accessories, and architectural and acoustical elements. Our brands Knoll Office, KnollStudio, KnollTextiles, KnollExtra, Spinneybeck | FilzFelt, Edelman Leather, HOLLY HUNT, DatesWeiser, Muuto, and Fully reflect our commitment to modern design that meets the diverse requirements of high-performance workplaces and luxury interiors. A recipient of the National Design Award for Corporate and Institutional Achievement from the Smithsonian's Cooper-Hewitt, National Design Museum, Knoll, Inc. is aligned with the U.S. Green Building Council and the Canadian Green Building Council and can help organizations achieve the Leadership in Energy and Environmental Design (LEED) workplace certification. Our products can also help clients comply with the International Living Future Institute to achieve Living Building Challenge Certification, and with the International WELL Building Institute to attain WELL Building Certification. Knoll, Inc. is the founding sponsor of the World Monuments Fund Modernism at Risk program.

Investors:

Charles Rayfield Senior Vice President and Chief Financial OfficerTel 215 679-1703crayfield@knoll.com

Media:

David E. BrightSenior Vice President, CommunicationsTel 212 343-4135dbright@knoll.com









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