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CANDIE'S, INC. RAISES $2,000,000 OF EQUITY

 NEW YORK, May 19 /PRNewswire/ -- Candie's, Inc. (NASDAQ: CAND), announced today that on May 17, 1993, the company sold an aggregate of 727,272 shares of common stock at a price of $2.75 per share to certain foreign investors in a private placement pursuant to the provisions of Regulation S of the Securities and Exchange Act of 1993. The investors paid $200,000 in cash and issued promissory notes to the company in the aggregate amount of $1,800,000, which are payable in July 1993. The company intends to use the proceeds of the private placement for the repayment of debt to its institutional lender, for the payment of certain other outstanding obligations, and for working capital purposes.
 Candie's, Inc., designs, markets, imports and distributes a variety of fashion and athletic footwear under the CANDIE'S trademark, as well as several other trademarks.
 -0- 5/19/93
 /CONTACT: Michael Callahan, chief financial officer of Candie's, 212-869-8725; or Melissa Wilmoth of Cameron Associates, 212-644-9560, for Candie's/
 (CAND)


CO: Candie's, Inc. ST: New York IN: SU:

GK-OS -- NY080 -- 0391 05/19/93 15:09 EDT
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Publication:PR Newswire
Date:May 19, 1993
Words:184
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