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News  ›  GlobeNewswire Inc.

Xcel Brands Announces $2.05 Million Private Placement

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Seth Burroughs
Xcel Brands Announces $2.05 Million Private Placement

Xcel Brands has secured a private investment of approximately $2.05 million through a PIPE financing, selling 1,670,055 shares of common stock and warrants at $1.2275 per share. The proceeds will be used for general corporate purposes and working capital.

Insights
BBAI.WS   positive

Surged 20.32% after beating revenue and earnings estimates


XELB   neutral

The company is raising capital through a standard PIPE financing, indicating a need for funds but not signaling significant financial distress or exceptional growth