Barnes & Noble Education, Inc. announced that it has received $14.999998 million in funding from Lids Holdings Inc., Fanatics, Inc.
December 19, 2020
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Barnes & Noble Education, Inc. (NYSE:BNED) announced that it has entered into subscription agreements for a private placement of 2,307,692 common shares of par value $0.01 per share, at an issue price of $6.5 per share for gross proceeds of $14,999,998 on December 20, 2020. The transaction included participation from new investors Fanatics, Inc. and Lids Holdings, Inc. The company issued securities in reliance upon applicable exemptions from registration under Section 4(a)(2) of the Securities Act of 1933, as amended and/or Rule 506 of SEC Regulation D thereunder.
Barnes & Noble Education, Inc. is a contract operator of physical and virtual bookstores for college and university campuses and K-12 institutions across the United States. The Company is also a textbook wholesaler, inventory management hardware and software provider, and a provider of digital education solutions. The Company's segments include Retail and Wholesale. The Retail Segment operates 1,366 college, university, and K-12 school bookstores, comprised of 774 physical bookstores and 592 virtual bookstores. The Wholesale Segment centrally sources, sells, and distributes new and used textbooks to approximately 3,000 physical bookstores, including its Retail segment's 774 physical bookstores and sources, and distributes new and used textbooks to its 592 virtual bookstores. Additionally, the Wholesale Segment sells hardware and a software suite of applications that provides inventory management and point-of-sale solutions to approximately 340 college bookstores.
BARNES & NOBLE EDUCATION, INC. 
