Los Angeles - September 8, 2015 – Joe's Jeans Inc. (NASDAQ: JOEZ) (the "Company") and RG Parent LLC today announced two transformative transactions. First, the Company has agreed to sell the Joe's® brand and operating assets for an aggregate purchase price of $80 million to two separate buyers, Sequential Brands Group Inc. (NASDAQ: SQBG) and Global Brands Group Holding Limited (SEHK Stock Code: 787). Proceeds from the transactions will be used to retire certain outstanding indebtedness, including all indebtedness owed to the Company's senior term loan lender. The closings of the asset sale transactions are subject to satisfaction or waiver of certain conditions, including the simultaneous closings of both asset sales. It is anticipated that the asset sale transactions will close by September 30, 2015.
what a #$%$ !!