Fossil Group Extends Exchange Offer for Senior Notes Amid Updates

Fossil Group Extends Exchange Offer for Senior Notes

Fossil Group, Inc. (NASDAQ: FOSL) has announced that it is extending its previously declared Exchange Offer and Consent Solicitation related to its 7.00% Senior Notes due in 2026. The extension will allow more time for investors to consider the details and implications of the offer, which has been adjusted to now expire on October 22, 2025. This decision reflects the company’s commitment to enhancing its capital structure and responding to the needs of its investors.

Key Details of the Exchange Offer

The revised deadline gives interested holders of the Old Notes an additional week to participate in the Exchange Offer. According to the company, all other terms and conditions surrounding the exchange will remain unchanged. This ensures that the process continues to be advantageous for stakeholders involved. As of the previous deadline, a significant number of Old Notes were already tendered according to reports from Epiq Corporate Restructuring, LLC, showing a robust interest from existing noteholders.

Participation Statistics

The statistics reveal that approximately $113,057,875 of the senior notes have been validly tendered by participants, demonstrating strong engagement in the process. Specifically, this amount represents about 75.37% of the total outstanding principal. The breakdown indicates that a substantial portion of these notes came from new money participants, amounting to over $106 million, which underscores optimism in the company's restructuring strategy and future prospects.

Update on UK Legal Proceedings

In a related announcement, Fossil has provided an update on its UK proceedings, following a recent hearing in the High Court of Justice. The judge approved Fossil (UK) Global Services Ltd.'s request to convene a meeting with holders of Old Notes to vote on proposals related to these proceedings. This Plan Meeting is slated for November 6, 2025.

What to Expect from the Upcoming Meeting

If approval is granted by the required majority at the meeting, Fossil UK will return to court for a sanction hearing shortly thereafter on November 10, 2025. This represents a significant step in their strategy, allowing the company to address its commitments effectively and streamline its pathways to recovery and growth.

Response to Recent Media Reports

Fossil Group has addressed various media speculations regarding a potential initial public offering (IPO) of its subsidiary in India. The company emphasizes that while it continuously evaluates its capital strategies, they are not actively pursuing any IPO plans at this time. This statement serves to clarify any misunderstandings and aligns with the company's strategic focus on stabilizing its existing operations.

Importance of Transparency

The organization's commitment to transparency is crucial, especially amidst changing market dynamics. By addressing rumors directly, Fossil ensures that stakeholders remain informed about its strategic choices and future direction, thereby reinforcing investor confidence.

Commitment to Investors

Fossil Group remains dedicated to complying with all regulatory requirements concerning its offerings. The company has filed necessary documentation with the U.S. Securities and Exchange Commission (SEC), ensuring that all potential and current investors have access to pertinent information regarding the Exchange Offer, Consent Solicitation, and Rights Offering. Additional documentation can be accessed through established avenues, and the company encourages inquiries from interested parties.

Investor Support and Contact Information

For any questions, investors can reach out to Christine Greany from The Blueshirt Group or contact Brunswick Group LLP for media inquiries. This proactive approach to communication showcases Fossil's dedication to keeping lines open with all stakeholders.

Frequently Asked Questions

What is Fossil Group's latest extension about?

Fossil Group extended its Exchange Offer and Consent Solicitation deadline for its 7.00% Senior Notes due 2026 to October 22, 2025.

How much of the Old Notes has been tendered so far?

Approximately $113,057,875 of the Old Notes has been validly tendered, representing about 75.37% of the total outstanding principal.

What is the significance of the upcoming UK Plan Meeting?

The UK Plan Meeting, scheduled for November 6, 2025, will allow holders of the Old Notes to vote on key proposals that affect the company's restructuring.

Is there any ongoing speculation about an IPO for Fossil's subsidiary?

Fossil Group has stated that while it evaluates its capital structure, it is not currently pursuing an IPO for any subsidiary.

Who can investors contact for more information?

Investors can contact Christine Greany at The Blueshirt Group or the Brunswick Group LLP for any inquiries regarding the company’s offerings.

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