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OFFON

NAKED BRAND GROUP LIMITED

(NAKD)
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Naked Brand Group Limited announced that it has received $8 million in funding from Iliad Management, LLC

07/24/2020 EDT

Naked Brand Group Limited (NasdaqCM:NAKD) announced that it has entered into a securities purchase agreement for a private placement of a convertible promissory note for gross proceeds of $8,000,000 on July 24, 2020. The company also issued a warrant to purchase common shares. The transaction included participation from existing investor, Iliad Research and Trading, L.P., a fund managed by Iliad Management, LLC. The note bear a fixed interest rate of 20% per annum and matures on November 12, 2021. The company may pay legal fees. The note carries an original issue discount of $150,000. The notes are convertible into ordinary shares of the company at issue price of equal to the lower of (x) US$0.44, and (y) 80% of the closing bid price of the Ordinary Shares on the trading day and (B) October 31, 2020. The warrant has an exercise price of $0.6707 per share, subject to adjustment for stock dividends or subdivisions or combinations of the company’s ordinary shares, and expires on July 24, 2025. The company shall incur expenses of $20,000 to cover the investor's legal fees, accounting costs, due diligence, monitoring and other transaction costs. The company received funding from 1 investor pursuant to Regulation D.


ę S&P Capital IQ 2020
Stocks mentioned in the article
ChangeLast1st jan.
BIKE24 HOLDING AG -1.86% 24.3 Delayed Quote.0.00%
NAKED BRAND GROUP LIMITED 15.04% 0.6839 Delayed Quote.256.20%
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Financials
Sales 2021 80,0 M 56,1 M 56,1 M
Net income 2021 -68,3 M -47,9 M -47,9 M
Net cash 2021 51,9 M 36,4 M 36,4 M
P/E ratio 2021 -2,64x
Yield 2021 -
Capitalization 762 M 535 M 535 M
EV / Sales 2020 0,73x
EV / Sales 2021 13,0x
Nbr of Employees 337
Free-Float 88,9%
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Managers and Directors
Justin Ashley Davis-Rice Executive Chairman & Chief Executive Officer
Mark Ziirsen Chief Financial Officer & Secretary
Chin Edirisuriya General Manager-Technology & Transformation
David Anderson Vice President-Operations & Strategy
Andrew Shape Independent Non-Executive Director
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