Naked Brand Group Limited (NasdaqCM:NAKD) announced that it has entered into a securities purchase agreement for private placement of 107,526,882 restricted units at the price of $0.93 per unit for gross proceeds of $100,000,000.26 on February 24, 2021. The transaction will involve participation from accredited investors, including Streeterville Capital, LLC which will acquire 53,763,440 units for $50,000,0000, Esousa Holdings LLC which will acquire 43,010,753 units for $40,000,000, and Acuitas Capital, LLC which will acquire 10,752,688 units for $10,000,000. Each unit consisting of one ordinary share, no par value and one warrant, each warrant entitling the holder to purchase one ordinary share at an initial exercise price of $1.13 and will expire five years from the date of issuance. The transaction is subject to customary closing conditions, including the review and non-objection by The Nasdaq Stock Market. If the company does not receive the non-objection from Nasdaq by March 6, 2021, the market price of ordinary shares closes below $0.618, or the closing does not occur on or prior to March 17, 2021, the Investors have the right to terminate the agreement. The transaction is expected to close during the week of March 1, 2021. The securities to be sold in the private placement have not been registered under the Securities Act of 1933, as amended. The Company also agreed to reimburse up to $30,000 for investor's costs and expenses relating to the sales agreement, including legal expenses.