dELiA*s Completes Underwritten Public Offering and Private Placement of Convertible Notes

  dELiA*s Completes Underwritten Public Offering and Private Placement of
  Convertible Notes

Business Wire

NEW YORK -- July 31, 2013

dELiA*s, Inc. (NASDAQ: DLIA), a multi-channel retail company primarily
marketing to teenage girls, today announced that it has closed on its recently
announced financing transactions with gross proceeds of $37.6 million. The
transactions included a public offering of 15,025,270 shares of its common
stock at $1.05 per share, resulting in gross proceeds of $15.8 million, and a
sale of $21.8 million in principal amount of 7.25% convertible notes in a
private placement. The notes will automatically convert into approximately
20.7 million shares of dELiA*s common stock upon stockholder approval.

The Company intends to use the net proceeds, after transaction expenses, for
working capital and general corporate purposes, including the repayment of a
portion of the outstanding amounts under their existing revolving credit
agreement with Salus Capital Partners, LLC. The Company cannot use the
proceeds from the sale of the notes until receiving stockholder approval.

Tracy Gardner, Chief Executive Officer, commented, “These transactions provide
us with a significantly improved capital structure, affording us additional
runway to execute on our vision. We are excited to have built a highly
talented leadership team. We are working hard to rejuvenate the business to
realize our long term growth potential for the dELiA*s brand.”

Janney Montgomery Scott LLC acted as the sole book-running manager and sole
placement agent for the public offering and private placement transactions,
respectively.

A shelf registration statement on Form S-3 relating to the public offering of
the shares of common stock described above was filed with the Securities and
Exchange Commission (the "SEC") and declared effective on September 7, 2012. A
final prospectus supplement related to the offering has been filed with the
SEC and is available on the SEC's website at www.sec.gov. Copies of the final
prospectus supplement and base prospectus may also be obtained from Janney
Montgomery Scott at 60 State Street, Boston, MA 02109, Attention: Equity
Syndicate Department or via email at prospectus@janney.com.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy these securities, nor shall there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction.

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.

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

This announcement may contain forward-looking statements made in reliance upon
the safe harbor provisions of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
including statements regarding our expectations and beliefs regarding our
future results or performance. Because these statements apply to future
events, they are subject to risks and uncertainties. When used in this
announcement, the words “anticipate”, “believe”, “estimate”, “expect”,
“expectation”, “should”, “would”, “project”, “plan”, “predict”, “intend” and
similar expressions are intended to identify such forward-looking statements.
Our actual results could differ materially from those projected in the
forward-looking statements. Additionally, you should not consider past results
to be an indication of our future performance. For a discussion of risk
factors that may affect our results, see the “Risk Factors That May Affect
Future Results” 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. We do not intend to update any of the forward-looking statements
after the date of this announcement to conform these statements to actual
results, to changes in management's expectations or otherwise, except as may
be required by law.

Contact:

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