Update: Vince Holding Shares Surge After P180 Acquires Majority Stake

MT Newswires Live

Jan 24

(Updates with the stock move in the headline and the first paragraph.)

Vince Holding (VNCE) shares surged more than 107% in recent trading Thursday following P180's acquisition of a majority stake in the company from Sun Capital Partners affiliates.

Vince announced the transaction late Wednesday, saying Brendan Hoffman will become its new CEO on Feb. 3, taking over from Interim CEO David Stefko, who will remain on the board.

Vince subsidiary V Opco also amended its credit agreement with Bank of America to accommodate the change in control, the company said.

Post-acquisition, P180 holds 65% of Vince Holding's shares, while Sun Capital affiliates own about 2%.

Price: 4.87, Change: +2.52, Percent Change: +107.28

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