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Article: Casual Male Retail Group, Inc. Announces Sale of Equity Securities.
- Article from:
- Investment Weekly News
- Article date:
- September 19, 2009
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Casual Male Retail Group, Inc. (NASDAQ:CMRG) ("Casual Male" or the "Company") announced that it has agreed to sell 4,950,000 shares of common stock to certain institutional investors.
Casual Male has entered into definitive agreements to sell the shares of its common stock through a registered direct offering at a price of $2.75 per share for gross proceeds of approximately $13.6 million. The Company intends to use the net proceeds of approximately $12.6 million from this offering for general corporate purposes, including the repayment of indebtedness.
The shares are being offered pursuant to the Company's effective shelf registration statement on Form ...