Van heusen corporation announces secondary offering of common stock

The series b convertible preferred stock was issued to affiliates of apax europe v gp co.Limited and apax partners europe managers limited in connection with the company's acquisition of calvin michael kors australia klein in february 2003.

The company will not receive any proceeds from this offering.In connection with this offering, the apax affiliates have agreed to convert all of the remaining shares of series b convertible preferred stock outstanding into common stock.In connection with the voluntary conversion of series b convertible preferred stock by the apax affiliates, the company has agreed to make a payment to the apax affiliates in the amount of $0.88 for each share of common stock received by the Apax affiliates, or an aggregate of approximately $10.2 million.This payment is based upon the net pres ... Read more »