The Iconix Brand Group has announced the full redemption of its outstanding 5.75 percent convertible senior notes, which were due in 2023, at their initial aggregate price of $125 million plus accrued interest, in connection with its planned merger with Lancer Capital on Aug. 4. The announcement coincided with the delisting of Iconix from the Nasdaq exchange on Aug. 4 following the successful closing of a tender offer launched by an affiliate of Lancer on June 12. Shareholders representing about 56 percent of the equity accepted the offered price of $3.15, which gave the struggling licensing company a valuation of just over $46.5 million, or $585 million including assumption of debt. A group of shareholders challenged the price in a Delaware court, but their request for a preliminary injunction was denied. Iconix’ large stable of brands includes Danskin, Ocean Pacific, Pony, Starter and Umbro in the sporting goods sector. Other important brands are Candie’s, Buffalo, Ecko United, Ed Hardy, Joe Boxer, Lee Cooper, London Fog, Mossimo and Rocawear.

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