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Elizabeth Arden

This article was originally published in The Rose Sheet

Executive Summary

Offering of nearly 2.6 mil. shares of common stock at $19.50 per share is complete, firm announces June 15. Unilever NV affiliates sold approximately 2.3 mil shares, and Arden sold 231,793 shares pursuant to an over-allotment option granted by the firm and exercised by the underwriter on June 10 (1"The Rose Sheet" June 14, 2004, In Brief). Shares sold comprise the remainder of common stock underlying firm's outstanding Series D Convertible Preferred stock. Since no shares of the Series D Convertible Preferred stock remain outstanding, Arden will not have to pay the 5% dividend on the outstanding liquidation and expects to incur a non-cash charge for the five-month period ending June 30 of approximately $19.2 mil. Charge will be the last associated with Series D Preferred Stock, company says...
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