SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of: August 2020
Commission File Number: 001-38544
NAKED BRAND GROUP LIMITED
(Translation of registrant’s name into English)
c/o Bendon Limited, 8 Airpark Drive, Airport Oaks, Auckland 2022, New Zealand
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes [ ] No [X]
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-___________.
Entry Into a Material Definitive Agreement.
On August 18, 2020, Naked Brand Group Limited (the “Company”) entered into a Global Amendment, dated as of August 17, 2020 (the “Amendment”), with St. George Investments LLC (the “Holder”), which amended the Convertible Promissory Note issued by the Company on February 11, 2020 (the “Amended Note”).
Pursuant to the Amendment, subject to the Company’s approval, the Holder may convert the outstanding balance of the Amended Note into the Company’s ordinary shares at a conversion price per share that is equal to (i) a percentage of not less than 75%, multiplied by (ii) the lowest daily volume weighted average price of the Company’s ordinary shares in the preceding 20 trading days, but in any event not less than the floor price specified in the Amendment. As of August 17, 2020, the aggregate outstanding balance of the Amended Note was approximately $4,468,000 and the closing price of the Company’s ordinary shares was $0.31.
The Amendment does not affect the Affiliated Holder’s right to convert the outstanding balance of the Amended Note at the fixed conversion price per share set forth therein, without the Company’s approval. The fixed conversion price per share of the Amended Note is $4.00, subject to adjustment for stock dividends or subdivisions or combinations of the Company’s ordinary shares.
As previously disclosed, the Company also issued Convertible Promissory Notes to the Holder and Iliad Research and Trading, L.P., an affiliate of the Holder (the “Affiliated Holder”), on October 4, 2019, November 12, 2019, December 19, 2019 and January 9, 2020 (the “Prior Notes”) and on April 15, 2020. As previously disclosed, on April 9, 2020 and June 10, 2020, the Company entered into Global Amendments with respect to the Prior Notes on terms substantially similar to the Amendment. Pursuant to the prior Global Amendments, the Affiliated Holders have converted the entire outstanding balance of the Prior Notes into 35,746,486 ordinary shares.
A copy of the Amendment is attached to this Report of Foreign Private Issuer on Form 6-K as Exhibit 10.1 and is incorporated herein by reference. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to such exhibit.
The copy of the Amendment has been included to provide investors and security holders with information regarding its terms. The copy is not intended to provide any other factual information about the Company. The representations, warranties and covenants contained in the agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to the agreement, may have been made in some cases solely for the allocation of risk between the parties and may be subject to limitations agreed upon by the parties.
The information contained in this Form 6-K, including the exhibits hereto, shall be incorporated by reference in the Company’s registration statements on Form F-3 (File Nos. 333- 226192, 333-230757, 333-232229, 333-235801 and 333-243751) and the prospectuses included therein.
Financial Statements and Exhibits.
|10.1||Global Amendment, dated as of August 17, 2020, by and between St. George Investments LLC and Naked Brand Group Limited.|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 19, 2020
|NAKED BRAND GROUP LIMITED|
|By:||/s/ Justin Davis-Rice|