Designer brands inc. announces intent to repurchase up to $100 million of its class a common shares through modified dutch auction tender offer

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 its board of directors (the "board") has authorized the repurchase of up to $100 million of the company's class a common shares through a modified "dutch auction" tender offer ("offer"), at an anticipated cash purchase 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. designer brands intends to enter into a $135 million term loan agreement to be used principally to fund the offer (the "financing contingency"), with the remaining availability to be used for general corporate purposes.
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