Xcel Brands Secures $2.05 Million in Private Placement Financing

Xcel Brands has announced a private placement of $2.05 million, with the proceeds to be used for general corporate purposes and working capital. The company plans to sell 1,670,055 shares of common stock and warrants to purchase up to 835,023 shares at a purchase price of $1.2275 per share. The warrants have an exercise price of $3.00 per share and will expire in five years.