Pryor Cashman represented Tommy Mottola, Chairman of the Mottola Media Group, in connection with his recent personal equity investment in the digital commerce company, Evine Live Inc. (NASDAQ:EVLV) (“Evine”).  As part of this transaction, Mottola - along with fashion designer Tommy Hilfiger – will become an advisor to Evine as it seeks to “build transformative alliances in th[e] ever-evolving video commerce marketplace.” 

“There is no better way to bring a brand’s story and vision to life than live video commerce,” Mottola said in Evine’s press release announcing the transaction.  “We are thrilled to be investing in a company that has been doing exactly that.  We view this as a strategic step into the changing retail landscape by igniting the fire where media and entertainment intersect retail.”

Mottola and other investors in the transaction, which was consummated on September 19, 2016, invested a total of $10 million in Evine and received shares of Evine’s common stock,  five-year warrants to purchase a number of shares of common stock equal to 50% of the number of shares originally purchased in the investment and a six-month option to make an additional equity investment in Evine.

Pryor Cashman Partner Brad D. Rose, Chair of the firm’s Intellectual Property Group, and Corporate Partners Edward C. Normandin and Eli B. Nathanson led the representation of Mottola, with assistance from Corporate Associate Michelle Pham.