WHP Global Announces Expiration of Lands' End Tender Offer

WHP Global (NASDAQ:LE) announced the expiration of its tender offer to buy up to 2,222,222 Lands' End shares at $45.00 per share.

Rhea-AI Summary

WHP Global (NASDAQ:LE) announced the expiration of its tender offer to buy up to 2,222,222 Lands' End shares at $45.00 per share. The offer expired at 7:00 a.m. ET on March 31, 2026.

Computershare, the depositary, reported 29,243,942 shares were validly tendered (~95.2% of outstanding). Purchaser accepted 2,222,222 shares (~7.2%) on a pro rata basis; the proration factor was approximately 7.6%.

Positive

• Accepted 2,222,222 shares at $45.00
• High shareholder participation: 29,243,942 shares tendered (~95.2%)

Negative

• Only ~7.2% of outstanding shares accepted, leaving most tenders unfilled
• Proration factor approximately 7.6%, limiting individual tender acceptance

Argus Apr 1 session

+2.85% close to close Open Argus

Details

News Market Reaction – LE

On Apr 1, the day this news came out, LE closed 2.85% above the previous close.

Data tracked by StockTitan Argus for the Apr 1 session.

Key Figures

Tender offer size: 2,222,222 shares Offer price: $45.00 per Share Par value: $0.01 per share +5 more

Tender offer size

2,222,222 shares

Maximum shares targeted in WHP Global tender offer

Offer price

$45.00 per Share

Cash consideration per share in tender offer

Par value

$0.01 per share

Par value of Lands’ End common stock

Expiration time

7:00 a.m. Eastern Time

Tender offer expiration on March 31, 2026

Shares tendered

29,243,942 Shares

Validly tendered and not withdrawn by expiration

Tender participation

95.2%

Tendered shares as % of issued and outstanding

Shares accepted

2,222,222 Shares

Accepted for payment, about 7.2% of outstanding

Proration factor

7.6%

Pro rata allocation applied to tendered shares

Historical Context

5 past events · Latest: Mar 19

5 events

1. Mar 19

   Earnings and JV

   24h Move

   +1.3%

   Fiscal 2025 results plus $300M WHP JV and $100M tender details.

2. Mar 05

   Earnings call setup

   24h Move

   +1.6%

   Announcement of upcoming Q4 and FY2025 earnings conference call.

3. Feb 26

   Tender offer launch

   24h Move

   +8.4%

   WHP subsidiary begins tender for up to 2,222,222 shares at $45.

4. Jan 26

   JV and tender

   24h Move

   +33.5%

   Announcement of $300M IP JV and related $45 share tender up to ~7%.

5. Jan 05

   Conference appearance

   24h Move

   +1.8%

   Participation in 28th Annual ICR Conference investor presentation.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

tender offer, par value, depositary, proration factor

4 terms

tender offer financial

"announced today the expiration of the previously announced tender offer (the "Tender Offer")"

A tender offer is a proposal made by a person or company to buy shares from existing shareholders at a set price, usually higher than the current market value, within a specific time frame. It matters to investors because it can lead to a change in ownership or control of a company, and shareholders must decide whether to sell their shares at the offered price.

View in glossary

par value financial

"shares of common stock, par value $0.01 per share (the "Shares"), of Lands' End"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

depositary financial

"Computershare Trust Company, N.A., the depositary and paying agent for the Tender Offer"

A depositary is a financial institution that holds and safeguards financial assets, such as stocks or bonds, on behalf of investors. It ensures that ownership records are accurate and that transactions are processed securely. For investors, a depositary provides a trustworthy way to manage their investments, similar to a secure vault that keeps valuables safe and organized.

proration factor financial

"The Depositary has advised that the proration factor for the Tender Offer is approximately 7.6%."

A proration factor is the percentage used to scale back how many shares or rights each investor receives when demand exceeds the available supply, such as in an oversubscribed offering or dividend distribution. It matters because it determines the actual number of shares an investor will get and the effective price or value per share they end up with — like cutting a limited number of pizza slices among more people than there are slices, so everyone gets a proportional piece.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, April 1, 2026 /PRNewswire/ -- LEWHP, LLC ("Purchaser") and WH Topco, L.P., d/b/a WHP Global, a leading brand management firm ("WHP Global"), announced today the expiration of the previously announced tender offer (the "Tender Offer") to purchase up to 2,222,222 of the issued and outstanding shares of common stock, par value $0.01 per share (the "Shares"), of Lands' End, Inc. (NASDAQ: LE) ("Lands' End") at a price of $45.00 per Share in cash, without interest and less any applicable tax withholding (the "Offer Price"). The Tender Offer expired at 7:00 a.m., Eastern Time, on March 31, 2026 (such date and time, the "Expiration Time").

Computershare Trust Company, N.A., the depositary and paying agent for the Tender Offer (the "Depositary"), has advised Purchaser and WHP Global that, as of the Expiration Time, 29,243,942 Shares were validly tendered and not validly withdrawn in the Tender Offer, representing approximately 95.2% of the issued and outstanding Shares as of the Expiration Time. Following the Expiration Time, Purchaser accepted for payment 2,222,222 Shares, representing approximately 7.2% of the total issued and outstanding Shares as of the Expiration Time, on a pro rata basis. The Depositary has advised that the proration factor for the Tender Offer is approximately 7.6%.

About WHP Global
WHP Global (https://www.whp-global.com) is a leading brand management platform founded in 2019 to acquire and grow consumer brands. Its portfolio includes 15+ powerful brands across fashion, sports, and hardgoods, generating over $8 billion in annual retail sales across 80+ countries. Headquartered in New York with offices worldwide, WHP Global partners with more than 235 leading operators and drives strategic value through proprietary initiatives, including an internal AI Innovation Lab.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements made in this press release may be deemed forward-looking statements. Any statements that are not statements of historical fact should be considered forward-looking statements. In many cases, forward-looking statements can generally be identified by the use of forward-looking terminology such as "may," "plan," "predict," "expect," "estimate," "intend," "would," "will," "could," "should," "anticipate," "believe," "project" or "continue" or the negative thereof or other similar expressions. The forward-looking statements contained in this press release reflect Purchaser's views as of the date of this press release and are based on Purchaser's expectations and beliefs concerning future events, as well as currently available information as of the date of this press release. While Purchaser believes there is a reasonable basis for its forward-looking statements, they involve a number of risks, uncertainties, assumptions and changes in circumstances that may cause actual results, performance or achievements to differ significantly from those expressed or implied in any forward-looking statement. Therefore, these statements are not guarantees of future events, results, performance or achievements, and you should not rely on them. All forward-looking statements included in this press release are based on information available to Purchaser as of the date on which such statements were made, and Purchaser assumes no obligation to update or revise any forward-looking statements to reflect events or circumstances that occur after such statements are made, except as required by law.

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SOURCE WHP Global

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When did WHP Global's tender offer for Lands' End (LE) expire?

The tender offer expired at 7:00 a.m. ET on March 31, 2026. According to WHP Global, that time marks the formal Expiration Time for the offer.

How many Lands' End (LE) shares were validly tendered in the offer?

A total of 29,243,942 shares were validly tendered, about 95.2% of outstanding shares. According to WHP Global, Computershare advised this tender count at expiration.

How many shares did the purchaser accept in the LAND'S END (LE) tender offer?

The purchaser accepted 2,222,222 shares on a pro rata basis, roughly 7.2% of outstanding shares. According to WHP Global, accepted shares reflect the maximum offered amount.

What was the offer price per share in the WHP Global tender for LE?

The offer price was $45.00 per share in cash, without interest and net of withholding. According to WHP Global, that was the cash amount payable per accepted share.

What proration factor applied to WHP Global's Lands' End (LE) tender offer?

The proration factor was approximately 7.6%, meaning most tendered shares were prorated. According to WHP Global, this factor determined pro rata acceptance of tenders.