Aug. 4 at 10:05 PM
$FOSL As for its balance sheet, Fossil finished 2023 with
$150 million in 7% Senior Notes maturing on Nov. 30, 2026. It also had
$181.2 million in operating lease liabilities. By the end of 2024, the operating lease liabilities were down to
$151.0 million due to the closing of stores.
By the end of 2025, as a result of its debt restructuring plan, it cancelled the old
$150 million in notes, replacing them with
$29.8 million in 7.5% Second-Out Second Lien Secured Senior Notes due in 2029 and
$120.2 million in 9.5% First-Out First Lien Secured Senior Notes due in 2029. In addition, it raised
$32.5 million in new financing by issuing more 9.5% notes. The downside: the holders of the
$32.5 million in notes also got 954,070 shares of FOSL stock
