Naked Brand Group Limited (NASDAQ: NAKD) shares were trading higher 60.87% to $2.22 in the extended-hours session. The stock is up 618.75% this year and is up 252.31% or $0.99 in the latest trading session. Over the trailing three months, the company’s stock price has risen by 618.75%, and for the week, it rose by 216.59%, and for the month, it had soared by 560.29%.
About the Company
The Naked Brand Group Corporation (NASDAQ: NAKD) is one of the world’s leading intimate apparel and swimwear companies with an extensive range of brands. It designs, builds, and promotes a portfolio of 8 company-owned brands and licensed brands for a broad cross-section of clients and market segments.
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What’s the News…
It was announced that Naked Brand Group Limited (NASDAQ: NAKD) had entered into securities purchase agreements with the individual, institutional investors for the issuance and transfer of 29,415,000 shares for $1.70 per share. The offering will generate gross proceeds of approximately $50 million.
In this offering, Maxim Group LLC is the sole placement agent.
The offering is expected to close by February 1, 2021, provided the closing conditions are satisfied.
No offer or solicitation of an offer to buy will be made in this press release, nor will shares be sold in any jurisdiction. Such offer, solicitation, or sale is illegal before registration under the securities laws of such jurisdiction.
Typically, high insider ownership indicates the company is confident about its prospects and has faith in its shares. This gives it an incentive to make it successful and maximize shareholder value. Insiders hold a total of 0.82% of all company shares at Naked Brand Group Limited. After these transactions, approximately 164.44k shares are owned by insiders at Naked Brand Group Limited, which is about 0.82% of all shares outstanding.