Iconix Brands Responds To Questions Of Dilution

(RTTNews) - In an open letter to shareholders released on Tuesday, Iconix Brands spoke out about questionis of dilution raised as part of the company's recent fundraising efforts.

Richard DeCicco, CEO of the company, said Iconix does "intend to raise capital." However, he noted that "we will not enter into any toxic or irrational financing." He added that the firm is in talks with "highly qualified and reputable sources, reviewing options, and will only act in the best interest of the company and its shareholders."

He added: "Although not imminent, we would also anticipate issuing certain shares to key employees as we grow our organization; this is as a regular course of business." However, he said management "will succumb to a toxic agenda."