Xcel Brands, which licenses a portfolio of acquired apparel brands, announced terms for its IPO on Friday.
The New York, NY-based company plans to raise $16 million by offering 1.5 million shares at a price range of $10 to $11. At the midpoint of the proposed range, Xcel Brands would command a fully diluted market value of $198 million.
Xcel's business is centered around license fees from the Isaac Mizrahi and Judith Ripka brands.
Xcel Brands, which was founded in 1989 and booked $24 million in sales for the 12 months ended March 31, 2015, plans to list on the NASDAQ under the symbol XELB. Wunderlich Securities is the sole bookrunner on the deal. No pricing date has been determined.
