Cache Announces Expiration of Its Rights Offering

  Cache Announces Expiration of Its Rights Offering

Business Wire

NEW YORK -- April 26, 2013

Cache, Inc. ("Cache") (NASDAQ: CACH), a specialty chain of women’s apparel
stores, announced the expiration of the subscription period for its previously
announced $8.0 million rights offering. The subscription period for the rights
offering expired at 5:00 p.m., New York City, time, on April 25, 2013.
Preliminary results indicate that basic subscription rights to purchase
approximately 4,623,761 shares of common stock were exercised, including the
exercise in full by each of MFP Partners, L.P. and Mill Road Capital, L.P. of
their full basic subscription rights. The rights offering together with the
transactions contemplated by the Investment Agreement entered into with MFP
Partners, L.P., Mill Road Capital, L.P. and Jay Margolis (the "Backstop and
Investment Agreement"), both of which are expected to close on May 1, 2013,
will result in gross proceeds to Cache of approximately $13 million. Cache
will not issue any shares pursuant to the exercise of oversubscription rights
in connection with the rights offering. Any excess subscription payments
received by the subscription agent will be returned, without interest, as soon
as practicable.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy nor will there be any sale of any securities referred to in
this press release in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of such state or jurisdiction. The rights offering
was made only by means of a prospectus meeting the requirements of the
Securities Act of 1933, as amended.

Further information with respect to the rights offering may be obtained by
calling the Information Agent, Laurel Hill Advisory Group, LLC, toll free at
888-742-1305.

About Cache, Inc.

Cache is a nationwide, mall-based specialty retailer of sophisticated
sportswear and social occasion dresses targeting style-conscious women who
have a youthful attitude and are self-confident. Cache currently operates 249
stores, primarily situated in central locations in high traffic, upscale malls
in 41 states, the Virgin Islands and Puerto Rico.

Certain matters discussed within this press release may constitute
forward-looking statements within the meaning of the federal securities laws.
Although Cache believes the statements are based on reasonable assumptions,
there can be no assurance that these expectations will be attained. Actual
results and timing of certain events could differ materially from those
projected in or contemplated by the forward-looking statements due to a number
of factors, including, without limitation, satisfaction of the conditions
relating to the rights offering and the other transactions contemplated by the
Backstop and Investment Agreement, as well as other risks outlined from time
to time in the filings of Cache with the Securities and Exchange Commission.

Contact:

Cache, Inc.
Maggie Feeney
Executive Vice President and Chief Financial Officer
212-575-3206
or
Investor Relations:
ICR, Inc.
Allison Malkin/Rachel Schacter
203-682-8225 /646-277-1243
 
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