Xcel Brands Stock Under Pressure as Small Share Sale Puts Cash in Spotlight
Xcel Brands disclosed it sold 7,500 shares for $15,650 under a $15 million equity purchase deal with White Lion Capital, according to a May 26 filing. Shares traded between $2.03 and $2.11 Wednesday on light volume after recent losses. Xcel reported $0.18 million in cash at March 31 and flagged “substantial doubt” about its ability to continue as a going concern. Revenue fell 14% to $1.1 million last quarter.
