Fossil Group (FOSL) shares were down nearly 39% in premarket trading on Thursday morning after the company said on Thursday that it has further extended the expiration of the exchange offer concerning its 7.00% Senior Notes due 2026.
The company also noted that it has extended the consent solicitation and its concurrent rights offering from October 15 to October 22.
Separately, the company stated that it is not currently pursuing an initial public offering of its subsidiary in India, following recent media reports about the subsidiary going public.
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