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Lands' End (LE) extends $45 tender offer; 17.1M shares tendered

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
SC 14D9/A

Rhea-AI Filing Summary

Lands' End amends its Solicitation/Recommendation Statement to disclose that the third-party tender offer for Company common stock has been extended until March 31, 2026 at 7:00 a.m., Eastern Time, unless further extended.

The filing restates that the offer is to purchase up to 2,222,222 shares at $45.00 per share and reports that, as of March 17, 2026 at 5:00 p.m. Eastern Time, 17,113,589 shares had been validly tendered (and not validly withdrawn) pursuant to the offer.

Positive

  • None.

Negative

  • None.

Insights

Extension preserves bidder's ability to complete oversubscribed offer under stated terms.

The amendment records that the offer's expiration was extended to March 31, 2026, and reiterates the offer price of $45.00 per share and the stated maximum of 2,222,222 shares. The extension language is verbatim: "until 7:00 a.m., Eastern Time, on March 31, 2026, unless further extended."

Timing and settlement mechanics are not changed in the excerpt; subsequent filings or the Schedule TO will show final prorationdetails and any conditions to closing.

Reported tender activity greatly exceeds the stated purchase cap, indicating likely proration.

The amendment cites 17,113,589 shares tendered as of March 17, 2026, compared with the offer cap of 2,222,222 shares; the filing does not compute proration or proceeds.

Cash-flow treatment and final accepted share count depend on Purchaser's proration and any closing conditions; those items are not detailed in this amendment and will appear in related Purchaser disclosures.

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

SCHEDULE 14D-9

(Amendment No. 1)

 

Solicitation/Recommendation Statement

Under Section 14(d)(4) of the Securities Exchange Act of 1934

 

 

 

Lands’ End, Inc.

(Name of Subject Company)

 

 

 

Lands’ End, Inc.

(Name of Persons Filing Statement)

 

 

 

Common stock, par value $0.01 per share

(Title of Class of Securities)

 

51509F105

(CUSIP Number of Class of Securities)

 

Peter L. Gray

President, Lands’ End Licensing, Chief Administrative Officer and General Counsel

Lands’ End, Inc.

5 Lands’ End Lane

Dodgeville, Wisconsin 53595

(608) 935-9341

 

(Name, address, and telephone number of person authorized to receive notices and communications on behalf of the persons filing statement)

 

With copies to:

 

Igor Kirman

Wachtell, Lipton, Rosen & Katz

51 W 52nd St,  

New York, New York 10019

(212) 403-1000

 

 

 

¨Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

 

 

 

 

 

This Amendment No. 1 (this “Amendment”) to Schedule 14D-9 amends and supplements the Solicitation/Recommendation Statement on Schedule 14D-9 previously filed by Lands’ End, Inc., a Delaware corporation (the “Company”), with the U.S. Securities and Exchange Commission (the “SEC”) on March 11, 2026 (as amended or supplemented from time to time, the “Schedule 14D-9”), relating to the tender offer by LEWHP, LLC, a Delaware corporation (“Purchaser”) and a wholly owned indirect subsidiary of WH Topco, L.P. (“WHP Global”), a Delaware limited partnership, to purchase up to 2,222,222 of the outstanding shares of common stock, par value $0.01 per share (the “Common Stock”), of the Company, in exchange for $45.00 per share in cash, without interest and less any applicable tax withholding, upon the terms and subject to the conditions set forth in the Offer to Purchase, dated February 26, 2026 (the “Offer to Purchase”), and the related Letter of Transmittal (which, together with the Offer to Purchase, as each may be amended or supplemented from time to time, collectively constitute the “Offer”).

 

The Offer is described in a Tender Offer Statement on Schedule TO filed by Purchaser with the SEC on February 26, 2026, as amended or supplemented from time to time.

 

Except as otherwise set forth below, the information set forth in the Schedule 14D-9 remains unchanged and is incorporated by reference as relevant to the items in this Amendment. Capitalized terms used and not defined herein shall have the meanings given to such terms in the Schedule 14D-9.  This Amendment is being filed to reflect certain updates as reflected below.

 

Item 2. Identity and Background of Filing Person

 

“Item 2. Identity and Background of Filing Person” of the Schedule 14D-9 is hereby amended and supplemented by inserting the following paragraph after the last paragraph under the subsection entitled “Tender Offer” as follows:

 

On March 18, 2026, Purchaser announced an extension of the expiration of the Offer until 7:00 a.m., Eastern Time, on March 31, 2026, unless further extended. The Offer was previously scheduled to expire at one minute following 11:59 p.m., Eastern time, on March 26, 2026.

 

Item 8. Additional Information.

 

“Item 8. Additional Information” of the Schedule 14D-9 is hereby amended and supplemented by adding the following at the end of Item 8 of the Schedule 14D-9:

 

Extension of the Offer.

 

On March 18, 2026, Purchaser announced an extension of the expiration of the Offer until 7:00 a.m., Eastern Time, on March 31, 2026, unless further extended.

 

Computershare Trust Company, N.A., the depositary for the Offer has advised Purchaser and WHP Global that, as of 5:00 p.m., Eastern time, on March 17, 2026, the last business day prior to the announcement of the extension of the Offer discussed below, 17,113,589 shares of Common Stock had been validly tendered (and not validly withdrawn) pursuant to the Offer.

 

 

 

SIGNATURE

 

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: March 18, 2026

 

Lands’ End, Inc.  
   
By: /s/ Peter L. Gray  
Name: Peter L. Gray  
Title: President, Lands’ End Licensing, Chief Administrative Officer and General Counsel  

 

 

FAQ

What change did Lands' End report regarding the WHP Global tender offer (LE)?

Lands' End reported that the tender offer's expiration was extended to 7:00 a.m. ET on March 31, 2026, "unless further extended." This amendment supplements the Schedule 14D-9 previously filed on March 11, 2026.

How many shares does the offer seek to purchase from Lands' End (LE)?

The Purchaser's offer is to buy up to 2,222,222 shares of common stock at $45.00 per share, per the amendment's restatement of the Offer and Offer to Purchase terms.

How many Lands' End shares had been tendered as of the filing (LE)?

The amendment states that as of 5:00 p.m. ET on March 17, 2026, 17,113,589 shares had been validly tendered (and not validly withdrawn) pursuant to the Offer, according to the depositary, Computershare Trust Company, N.A.

Will Lands' End receive proceeds from the tender offer (LE)?

The amendment does not state proceeds recipients; the Offer described in the Schedule TO contemplates payment of $45.00 per share in cash to holders whose shares are accepted. The Purchaser is the party making the cash payment under the Offer.

Does the amendment change the price or other offer terms for Lands' End (LE)?

No. The amendment only discloses an extension of the offer's expiration and the tender count as of March 17, 2026; it does not change the stated purchase price of $45.00 per share or other Offer terms in the excerpt.
Lands End Inc

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