The Company expects to file an 8-K with its pro-forma financial statements later this week. Upon today’s closing, Sequential has paid down approximately $155 million in debt.
Sequential brands stock full#
The full impact of any such reductions would be expected starting in 2020. “The proceeds from this transaction allow us to pay down debt and provide us with the flexibility we need to execute on our growth strategy, which includes building out our active and fashion brands and executing on the many untapped opportunities for our brands in the health, wellness and beauty space.”Īfter the close of the sale, the Company expects additional cost savings, including potential plans to eliminate its current corporate headquarters or other reductions. “We are pleased to close on the sale of the Martha Stewart and Emeril Lagasse brands,” said Karen Murray, CEO of Sequential Brands Group.
(NASDAQ: SQBG) (“Sequential” or the “Company”) today announced it has closed on the previously announced sale of the Martha Stewart and Emeril Lagasse brands for approximately $175 million with an earnout opportunity of up to an additional $40 million. No cash balance or cash flow is included in the calculation.NEW YORK, J(GLOBE NEWSWIRE) - Sequential Brands Group, Inc. Please note all regulatory considerations regarding the presentation of fees must be taken into account. Backtested results are adjusted to reflect the reinvestment of dividends and other income and, except where otherwise indicated, are presented gross-of fees and do not include the effect of backtested transaction costs, management fees, performance fees or expenses, if applicable. Actual performance may differ significantly from backtested performance. Further, backtesting allows the security selection methodology to be adjusted until past returns are maximized. Since trades have not actually been executed, results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity, and may not reflect the impact that certain economic or market factors may have had on the decision-making process. Specifically, backtested results do not reflect actual trading or the effect of material economic and market factors on the decision-making process. Backtested performance is developed with the benefit of hindsight and has inherent limitations.
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