Parent Skechers is offering 1.4 million shares,or 35 per cent, of the Karl Kani operation to the publicthrough underwriter Joseph Charles & Associates. 35per cent of the estimated $12,984,000 in net proceeds are targetedfor advertising the Karl Kani brand name, another 10 per centfor endorsements, 10 per cent for developing concept shops andthe balance for general working capital and general corporatepurposes.

Former L.A. Gear CEO Bob Greenberg is CEOof both Kani and Skechers, and the latter will own the remaining2.6 million shares of Karl Kani. Skechers will continue to performvarious management services in return for a fee, payable monthlyand set at ... Log in to view full article.