Crocs, Announces Blackstone Agrees to Purchase $200M of Convertible Preferred Stock; Raises Share Buyback to $350M

Crocs

today announced that an investment fund affiliated with Blackstone has agreed to purchase $200 million of newly issued series A convertible preferred stock. In connection with the investment, Crocs intends to revise its capital structure to accommodate a $350 million stock repurchase program approved by its board of directors.