May 2022

iMedia Advised on $24M 2022 Registered Direct Offering

United States - Minnesota

iMedia Brands is an interactive media company capitalizing on the convergence of entertainment, e-commerce and advertising that was advised by Faegre Drinker on a $24 million 2022 registered direct offering. iMedia intends to use the proceeds to pay off a certain amount of its existing debt, for working capital and for general corporate purposes. 
The offering will include approximately 4.04 million shares of its common stock at a price of $3.07 per share, pre-funded warrants to purchase approximately 3.76 million shares of its common stock at $3.0699, and warrants to purchase approximately 7.80 million shares of its common stock at $2.94, which are exercisable only upon receipt of stockholder approval of an increase in the authorized shares of its common stock.

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