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Kanye West Gets Gap Warrants in Yeezy Deal -- Market Talk

Dow Jones Newswires ·  Jun 26, 2020 22:01

DJ Kanye West Gets Gap Warrants in Yeezy Deal -- Market Talk

10:00 ET - Gap says it issued warrants to buy up to 8.5M shares to Kanye West's Yeezy Supply as part of its design deal with the singer's label. Gap says the warrants vest and are exercisable in one-third increments based on sales targets of $250M, $450M and $700M during a fiscal year through FY25. Gap, which currently has about 373M shares outstanding, says the warrants expire 20 business days after it confirms its FY25 net sales. Gap jumps 39% to $14.19. (colin.kellaher@wsj.com)

(END) Dow Jones Newswires

June 26, 2020 10:01 ET (14:01 GMT)

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