dELiA*s Receives Stockholder Approval to Use Proceeds of $24.1 Million from Sale of Secured Convertible Notes

  dELiA*s Receives Stockholder Approval to Use Proceeds of $24.1 Million from
  Sale of Secured Convertible Notes

Business Wire

NEW YORK -- June 18, 2014

dELiA*s, Inc. (NASDAQ:DLIA), an omni-channel retail company primarily
marketing to teenage girls, today announced that it has received stockholder
approval for an amendment to its certificate of incorporation to increase the
number of authorized shares of common stock. This will allow the Company to
use $24.1 million in proceeds from the sale of secured convertible notes that
occurred on February 18, 2014 through the conversion of the secured
convertible notes into series B convertible preferred stock. The Company
intends to use the proceeds for working capital and general corporate
purposes.

Tracy Gardner, Chief Executive Officer, commented, “We are pleased to have
received stockholder approval for this amendment, which allows us to improve
our capital structure. This will give us additional financial flexibility as
we continue to execute our turnaround strategy. We believe that there is great
long-term potential for the Company and are working diligently to transform
dELiA*s into a customer-centric teen brand.”

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

About dELiA*s, Inc.

dELiA*s, Inc. is an omni-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 but not limited to our Annual Report on Form 10-K, as
amended; Quarterly Reports on Form 10-Q; and Registration Statements on Form
S-3. 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:

ICR
Jean Fontana, 646-277-1214
 
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