Designer brands inc. announces commencement of tender offer to repurchase up to $100 million of its class a common shares

Columbus, ohio , june 8, 2023 /prnewswire/ -- designer brands inc. (nyse: dbi) (the "company" and "designer brands"), one of the world's largest designers, producers, and retailers of footwear and accessories, today announced that it has commenced a modified "dutch auction" tender offer to repurchase up to $100 million in value of shares of its class a common shares at a price of not less than $7.00 per share and not more than $8.00 per share, less any applicable withholding taxes and without interest. the number of shares proposed to be purchased in the tender offer (at a minimum purchase price of $7 per share) represents approximately 25% of the company's currently outstanding class a common shares.
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