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 Leonard Klingbaum, Sam Badawi and Milap Patel, capital markets partner Faiza Rahman, and business restructuring partners Matthew Czyzyk and Matt Roose.
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