Cache Reports Expiration of Rights Offering, Sees Proceeds $13M

Cache, Inc. ("Cache") (NASDAQ: CACH), a specialty chain of women's apparelstores, announced the expiration of the subscription period for its previouslyannounced $8.0 million rights offering. The subscription period for the rightsoffering expired at 5:00 p.m., New York City, time, on April 25, 2013.Preliminary results indicate that basic subscription rights to purchaseapproximately 4,623,761 shares of common stock were exercised, including theexercise in full by each of MFP Partners, L.P. and Mill Road Capital, L.P. oftheir full basic subscription rights. The rights offering together with thetransactions contemplated by the Investment Agreement entered into with MFPPartners, L.P., Mill Road Capital, L.P. and Jay Margolis (the "Backstop andInvestment Agreement"), both of which are expected to close on May 1, 2013,will result in gross proceeds to Cache of approximately $13 million. Cachewill not issue any shares pursuant to the exercise of oversubscription rightsin connection with the rights offering. Any excess subscription paymentsreceived by the subscription agent will be returned, without interest, as soonas practicable.