Ropes & Gray represented HG Vora Capital Management and Nantahala Capital as Fossil Group’s (Nasdaq: FOSL) noteholders in the negotiation of a transaction support agreement and related exchange offer for new first-out and second-out senior secured notes due 2029 and associated incremental funding, warrants, and equity consideration. The refinancing transaction was announced on Aug. 13 in a press release.
HG Vora and Nantahala Capital collectively hold approximately 59% of Fossil Group’s outstanding 7.00% senior notes due 2026.
HG Vora primarily invests in performing credit, stressed and distressed special situations, as well as value-oriented equities that may benefit from potential catalysts. Nantahala invests primarily in small and micro-cap stocks across a variety of sectors with a multi-year investment time horizon.
The team includes credit opportunities partners Sam Badawi and Milap Patel, and capital markets partner Faiza Rahman.
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