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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Iconix Brand Group, Inc.    ICON

ICONIX BRAND GROUP, INC.

(ICON)
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ICONIX BRAND GROUP, INC. : Other Events (form 8-K)

09/29/2020 | 04:36pm EST
Item 8.01. Other Events.



On September 29, 2020, Iconix China Limited ("Iconix China"), an indirect wholly-owned subsidiary of Iconix Brand Group, Inc. (the "Company"), completed the previously announced sale of all of the equity interests of Starter China Limited, a wholly-owned subsidiary of Iconix China (the "Starter China Sale"), for consideration of $16.0 million. The Starter China Sale includes the sale of the Starter brand in the People's Republic of China, Hong Kong, Taiwan and Macau. The Company anticipates using the net proceeds from the Starter China Sale to repay amounts due under its existing financing arrangements, and otherwise for general corporate purposes.



Forward-Looking Statements


This Form 8-K contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The matters discussed in this Form 8-K involve estimates, projections, goals, forecasts, assumptions, risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. All statements in this Form 8-K that are not purely historical facts are forward-looking statements, including statements containing the words "may," "will," "expect," "anticipate," "intend," "estimate," "continue," "believe," "plan," "project," "will be," "will continue," "will likely result" or similar expressions. Any forward-looking statement inherently involves risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to: the Company's determination of its use of proceeds; and other risks. The Company discusses certain of these factors more fully in its additional filings with the Securities and Exchange Commission (the "SEC"), including its annual report on Form 10-K for the fiscal year ended December 31, 2019 and subsequent quarterly reports on Form 10-Q filed with the SEC, and this Form 8-K should be read in conjunction with those reports, together with all of the Company's other filings, including other current reports on Form 8-K, through the date of this Form 8-K. The Company urges you to consider all of these risks, uncertainties and other factors carefully in evaluating the forward-looking statements contained in this Form 8-K.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Since the Company operates in a rapidly changing environment, new risk factors can arise and it is not possible for the Company's management to predict all such risk factors, nor can the Company's management assess the impact of all such risk factors on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company's future results, performance or achievements could differ materially from those expressed or implied in these forward-looking statements. The Company does not undertake any obligation to publicly revise these forward-looking statements to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2019 149 M - -
Net income 2019 -112 M - -
Net Debt 2019 599 M - -
P/E ratio 2019 -0,13x
Yield 2019 -
Capitalization 12,1 M 12,1 M -
EV / Sales 2018 3,28x
EV / Sales 2019 4,13x
Nbr of Employees 118
Free-Float 75,7%
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Managers
NameTitle
Robert C. Galvin President, Chief Executive Officer & Director
F. Peter Cuneo Chairman
John T. McClain Chief Financial Officer & Executive Vice President
Drew Cohen Lead Independent Director
James A. Marcum Independent Director
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