SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 28, 1997
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CHIC BY H.I.S, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-11722 13-3494627
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(State or other (Commission (IRS Employer
jurisdiction File Number) Identification No.)
of incorporation)
1372 Broadway
New York, New York 10018
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 302-6400
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Not applicable
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(Former name or former address, if changed since last report)
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This document consists of 7 pages.
The exhibit index is contained on page 4 of this document.
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Item 5. Other Events.
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On April 28, 1997, Chic by H.I.S, Inc. (the "Company") issued a
press release announcing that it had executed an underwriting agreement in
connection with an initial public offering that will result in the sale by the
Company of 1,920,000 shares of common stock of its wholly owned German
subsidiary, H.I.S. sportswear AG, and that it had granted the managing
underwriter in connection with such offering an option to purchase up to an
additional 200,000 shares to cover over-allotments, if any. A copy of the press
release is attached hereto as Exhibit 99.
Item 7. Financial Statements and Exhibits.
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(a) Financial statements of businesses acquired.
Not Applicable.
(b) Pro forma financial information.
Not Applicable.
(c) Exhibits.
99 Press Release, dated April 28, 1997, announcing the execution
of the Underwriting Agreement.
Page 2
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
CHIC BY H.I.S, INC.
By /s/ Burton M. Rosenberg
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Burton M. Rosenberg
Chairman and Chief Executive Officer
Dated: April 29, 1997
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EXHIBIT INDEX
Sequentially
Exhibit Numbered
Number Exhibit Page
- ------ ------- ----
99 Press Release, dated April 28, 1997, 5
announcing the execution of the
Underwriting Agreement.
Page 4
Exhibit 99
Page 5
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FOR IMMEDIATE RELEASE
April 28, 1997 -- Chic by H.I.S, Inc. (New York Stock Exchange
symbol: JNS) announced that it has executed an underwriting agreement in
connection with an initial public offering that will result in the sale by Chic
of 1,920,000 shares of common stock (representing 43.0%) of its wholly owned
German subsidiary, H.I.S. sportswear AG, at an offering price of DM 39 per share
(approximately $22.58 per share). In addition, Chic has granted the managing
underwriter in connection with the offering an option to purchase up to an
additional 200,000 shares (representing an additional 4.5%) to cover
over-allotments, if any, which option may be exercised for a period of no more
than 30 German bank business days.
Upon consummation of the offering, the German subsidiary's common
stock will be listed on the Frankfurt and Munich stock exchanges. The securities
to be sold in the offering will not be registered under the Securities Act of
1933 and may not be offered or sold in the United States absent registration or
an applicable exemption from registration requirements.
Net proceeds to be received by Chic from the sale will be used to
repay indebtedness and for general corporate purposes.
Chic designs, manufactures and markets moderately priced, basic
style, cotton denim jeans, casual pants and shorts for women, girls, men and
boys. Chic's German subsidiary markets women's and men's jeans and casual pants
under the H.I.S. brand name primarily in Germany and, to a lesser extent,
Austria, Switzerland, the Czech Republic and Poland.
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2
FOR FURTHER INFORMATION: Contact: Chic Public Relations
Department (212-302-6400).
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