Destination XL Group, Inc. Confirms Receipt of Non-Binding Proposal from Fund 1 Investments, LLC
23 Dezember 2024 - 7:57PM
Destination XL Group, Inc, (NASDAQ: DXLG), the leading integrated -
commerce specialty retailer of Big + Tall men’s clothing and shoes,
today confirmed that it has received a non-binding proposal from
Fund 1 Investments, LLC to acquire all of the outstanding
shares of the Company.
The Board of Directors regularly reviews opportunities to create
and enhance shareholder value and will carefully review and
evaluate this proposal and other strategic alternatives together
with its financial and legal advisors.
Guggenheim Securities, LLC is acting as financial advisor and
Greenberg Traurig, LLP is acting as legal advisor to the
Company.
About Destination XL Group, Inc.
Destination XL Group, Inc. is the leading retailer of Men’s Big
+ Tall apparel that provides the Big + Tall man the freedom to
choose his own style. Subsidiaries of Destination XL Group, Inc.
operate DXL Big + Tall retail and outlet stores and Casual Male XL
retail and outlet stores throughout the United States, and an
e-commerce website, DXL.COM, and mobile app, which offer a
multi-channel solution similar to the DXL store experience with the
most extensive selection of online products available anywhere for
Big + Tall men. The Company is headquartered in Canton,
Massachusetts, and its common stock is listed on the Nasdaq Global
Market under the symbol "DXLG." For more information, please visit
the Company's investor relations website:
https://investor.dxl.com
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are often accompanied by words
that convey projected future events or outcomes such as “expect,”
“believe,” “estimate,” “plan,” “project,” “anticipate,” “intend,”
“will,” “may,” “view,” “opportunity,” “potential,” or words of
similar meaning or other statements concerning opinions or judgment
of the Company or its management about future events, and include
statements regarding the Company’s evaluation of the non-binding
proposal. Such forward-looking statements are based on various
assumptions as of the time they are made, and are inherently
subject to known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Although the Company believes that its expectations
with respect to forward-looking statements are based upon
reasonable assumptions within the bounds of its existing knowledge
of its business and operations, there can be no assurance that
actual results, performance, or achievements of the Company will
not differ materially from any projected future results,
performance or achievements expressed or implied by such
forward-looking statements. Actual future results, performance or
achievements may differ materially from historical results or those
anticipated depending on a variety of factors, many of which are
beyond the control of the Company. The Company encourages readers
of forward-looking information concerning the Company to refer to
its filings with the Securities and Exchange Commission, including
without limitation, its Annual Report on Form 10-K filed on March
21, 2024, its Quarterly Reports on Form 10-Q and other filings with
the Securities and Exchange Commission that set forth certain risks
and uncertainties that may have an impact on future results and the
direction of the Company
Investor Relations Contact:
investor.relations@dxlg.com
(603) 933-0541
Public Relations Contact:
Mike Reilly / Matt Sherman
Joele Frank, Wilkinson Brimmer Katcher
DXLGmedia-jf@joelefrank.com
(212) 355-4449
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