dELiA*s Agrees to Sell $21.8 Million in Principal Amount of 7.25% Convertible Notes

  dELiA*s Agrees to Sell $21.8 Million in Principal Amount of 7.25%
  Convertible Notes

Business Wire

NEW YORK -- July 26, 2013

dELiA*s, Inc. (NASDAQ: DLIA) (the “Company”), a multi-channel retail company
primarily marketing to teenage girls, today announced that it has entered into
a definitive agreement to sell approximately $21.8 million in principal amount
of 7.25% convertible notes in a private placement. The notes will convert into
approximately 20.7 million shares of common stock of the Company upon
stockholder approval. The Company plans to submit to stockholders for approval
within 90 days of the closing of the private placement the issuance of the
shares of common stock issuable upon conversion of the notes, in accordance
with the rules of the Nasdaq Global Market. The private placement is expected
to close on or about July 31, 2013, subject to the satisfaction of customary
closing conditions.

Janney Montgomery Scott LLC acted as the sole placement agent for the
transaction.

The notes and the shares of common stock issuable upon conversion of the notes
have not been registered under the Securities Act of 1933 or any state
securities laws and, until so registered, may not be offered or sold in the
United States or any state absent registration or an applicable exemption from
registration requirements.

This news release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities 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 any such
state or jurisdiction.

About dELiA*s, Inc.

dELiA*s, Inc. is a multi-channel retail company primarily marketing to teenage
girls. It generates revenue by selling apparel, accessories and footwear to
consumers through its website, direct mail catalogs, and mall-based retail
stores.

Forward-Looking Statements

All statements included in this press release, other than statements of
historical fact, are forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended. Forward-looking statements can
generally be identified by words such as “may,” “could,” “will,” “should,”
“assume,” “expect,” “anticipate,” “plan,” “intend,” “believe,” “predict,”
“estimate,” “forecast,” “outlook,” “potential,” or “continue,” or the negative
of these terms, and other comparable terminology, and include statements
regarding the anticipated use of proceeds from the offering. Although we
believe the expectations and intentions reflected in our forward-looking
statements are reasonable, we cannot assure you that these expectations and
intentions will prove to be correct.

Various risks and other factors including those risks and uncertainties
identified in the “Risk Factors” section of our filings with the Securities
and Exchange Commission, including our annual report on Form 10-K and
quarterly reports on Form 10-Q, could cause actual results, and actual events
that occur, to differ materially from those contemplated by the
forward-looking statements.

Many of the risk factors are beyond our ability to control or predict. You
should not unduly rely on any of our forward-looking statements. These
statements are made only as of the date of this press release. Except as
required by law, we are not obligated to publicly release any revisions to
these forward-looking statements to reflect future events or developments. All
subsequent written and oral forward-looking statements attributable to us and
persons acting on our behalf are qualified in their entirety by the cautionary
statements contained herein or in our public filings.

Contact:

dELiA*s, Inc.
David Dick, 212-590-6200
Chief Financial Officer
or
ICR
Jean Fontana, 646-277-1214
 
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