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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><U>FORM 8-K</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) OF THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
<U>May 23, 2012</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>Frederick&rsquo;s
of Hollywood Group Inc.</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
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    <TD STYLE="width: 32%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">New York</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">001-5893</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">13-5651322</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or Other Jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of Incorporation)</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">File Number)</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(IRS Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 66%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">6255 Sunset Boulevard, Hollywood, CA</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">90028</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Address of Principal Executive Offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Registrant&rsquo;s telephone number, including area code:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>(323)
466-5151</U></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><U>N/A </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD><FONT STYLE="color: black">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD><FONT STYLE="color: black">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD><FONT STYLE="color: black">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e
4(c))</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 1.01</B></TD><TD><B>Entry into a Material Definitive Agreement.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border: white 1pt solid">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On May 23, 2012, Frederick&rsquo;s of Hollywood
Group Inc. (the &ldquo;Company&rdquo;) entered into a Series A Preferred Stock Purchase Agreement (&ldquo;Purchase Agreement&rdquo;),
pursuant to which the Company sold $5.0 million of Series A Convertible Preferred Stock (&ldquo;Preferred Stock&rdquo;) to TTG
Apparel, LLC (the &ldquo;Purchaser&rdquo;), which together with its affiliate, Tokarz Investments, LLC, are significant shareholders
of the Company. In addition, the Company issued to the Purchaser three, five, and seven year warrants, each to purchase 500,000
shares of common stock (for an aggregate of 1,500,000 shares of common stock) at exercise prices of $0.45, $0.53 and $0.60 per
share, respectively (the &ldquo;Warrants&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The Company
is required by the terms of the Purchase Agreement to use the $5.0 million of proceeds of the sale of Preferred Stock solely for
paying, settling or discharging accounts payable of the</FONT> <FONT STYLE="font-size: 10pt">Company</FONT>. <FONT STYLE="font-size: 10pt">The
Company intends to use the proceeds to pay a group of merchandise vendors a portion of their accounts payable and, in turn, receive
a total of approximately $4.9 million in markdown allowances. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The terms of the Preferred Stock are as
follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Dividends</U>. Cumulative dividends on
the Preferred Stock will be payable quarterly in arrears at the rate of 9% per annum in additional shares of Preferred Stock (&ldquo;PIK
Shares&rdquo;), except that from and after May 23, 2014, the rate will be the greater of 9% per annum or the highest rate the Company
is paying on any outstanding debt under its then existing credit facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Conversion</U>. The Preferred Stock other
than the PIK Shares may be converted at any time, at the option of the holder, into shares of common stock at a conversion price
of $1.05 per share (&ldquo;Conversion Price&rdquo;), and the PIK Shares may be converted at any time, at the option of the holder,
into shares of common stock at a conversion price of $0.45 per share (&ldquo;PIK Share Conversion Price&rdquo;). The Conversion
Price and PIK Share Conversion Price will be adjusted for customary structural changes such as stock splits and dividends. The
Conversion Price will also be adjusted if the Company sells common stock or common stock equivalents at a price below the Conversion
Price, and the PIK Share Conversion Price will be adjusted if the Company sells common stock or common stock equivalents at a price
below the PIK Share Conversion Price; provided, however, that the foregoing conversion price adjustments can never result in a
conversion price of less than $0.29 per share (&ldquo;Floor Conversion Price&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Ranking</U>. The Preferred Stock ranks,
with respect to rights upon a Liquidation Event (defined below), (a) junior to any other class or series of capital stock of the
Company created that by its terms ranks senior to the Preferred Stock; (b) senior to the common stock; (c) senior to any class
or series of capital stock of the Company created that does not specifically rank senior to or on parity with the Preferred Stock;
and (d) on parity with any class or series of capital stock of the Company created that by its terms ranks on parity with the Preferred
Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Voting Rights</U>. Except as required
by law, the Preferred Stock will not have voting rights. However, as long as any shares of Preferred Stock are outstanding, the
Company may not, without the affirmative vote of the holders of a majority of the then outstanding shares of Preferred Stock, (a)
alter or change adversely the powers, preferences or rights given to the holders of the Preferred Stock, (b) amend its certificate
of incorporation or other charter documents in any manner that adversely affects any rights of the holders of the Preferred Stock,
(c) authorize or designate any new security ranking on a parity with or senior to the Preferred Stock, (d) issue any common stock
or debt or equity security convertible into common stock, whether senior, on parity or junior to the Preferred Stock, at a price
per share which is lower than the Floor Conversion Price or (e) issue any equity or debt in a Qualifying Investment (as defined
in the Certificate of Amendment <FONT STYLE="color: black">to the Certificate of Incorporation of the Company (&ldquo;Certificate
of Amendment&rdquo;)</FONT>) where the securities issued in such investment are by their terms mandatorily redeemable by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Liquidation Rights</U>. Upon the occurrence
of an Acquisition or Asset Transfer (each as defined in the Certificate of Amendment) or upon any liquidation, dissolution or winding
up of the Company, whether voluntary or involuntary (any such Asset Acquisition, Asset Transfer, liquidation, dissolution or winding
up, a &ldquo;Liquidation Event&rdquo;), a holder of Preferred Stock will be entitled to receive in preference to the holders of
any capital stock of the Company junior to the Preferred Stock, an amount equal to: (i) the stated value of the Preferred Stock
plus all accrued but unpaid dividends thereon, multiplied by (ii)(A) 1.09 if the Liquidation Event takes place by May 23, 2013,
(B) 1.05 if the Liquidation Event takes place after May 23, 2013 but no later than May 23, 2014, or (C) 1.0 if the Liquidation
Event takes place after May 23, 2014, plus (x) the original value per share as of the date of issuance for any PIK Shares (as adjusted
for stock splits, reverse stock splits and similar capital adjustments) plus all accrued but unpaid dividends thereon, multiplied
by (y) the number of PIK Shares. A holder of the Preferred Stock will also have the right to require the Company to purchase its
shares of Preferred Stock for a price equal to the amount the holder would be entitled to receive upon a Liquidation Event in the
event of a cash investment in the Company (other than by holders of the Preferred Stock) resulting in a change in ownership of
more than 30% of the equity of the Company and the securities issued under such investment not being mandatorily redeemable by
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>Optional Redemption by the Company</U>.
The Preferred Stock is redeemable, at the option of the Company, at any time. Upon redemption, a holder of Preferred Stock will
be paid: (a) for each share of Preferred Stock other than a PIK Share, a price equal to the stated value of the Preferred Stock
plus all accrued but unpaid dividends thereon multiplied by (i) 1.10 if the redemption occurs on or prior to May 23, 2015, (ii)
1.08 if the redemption occurs after May 23, 2015 but on or prior to May 23, 2017 or (iii) 1.0 if the redemption occurs after May
23, 2017, and (b) for each PIK Share, an amount equal to the stated value of the Preferred Stock plus all accrued but unpaid dividends
thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company has agreed to file a registration
statement to register the resale of the shares of common stock issuable upon conversion of the Preferred Stock and exercise of
the Warrants within 60 days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing is a summary of the Purchase
Agreement, Certificate of Amendment and Warrants, which is not complete, and is qualified in its entirety by reference to the full
text of those agreements, which are attached as exhibits to this Current Report on Form 8-K. Readers should review the Purchase
Agreement and all related agreements for a complete understanding of the terms and conditions associated with this transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On May 24, 2012, the Company issued a press
release attached hereto as Exhibit 99.1, announcing the matters described in this Item 1.01.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in"><B>&nbsp;</B></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 3.02</B></TD><TD><B>Unregistered Sales of Equity Securities.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border: white 1pt solid">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information set forth in Item 1.01 is
hereby incorporated by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 9.01</B></TD><TD><B>Financial Statements and Exhibits.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d) Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.1</TD><TD>Certificate of Amendment to the Company&rsquo;s Certificate of Incorporation</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">10.1</TD><TD>Series A Preferred Stock Purchase Agreement</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">10.2</TD><TD>Form of Warrant</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">99.1</TD><TD>Press release dated May 24, 2012</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, Frederick&rsquo;s of Hollywood Group Inc. has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated:&nbsp;&nbsp;May 29, 2012</P>

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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">FREDERICK&rsquo;S OF HOLLYWOOD GROUP INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/ Thomas Rende</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Thomas Rende</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(Principal Financial and Accounting Officer)</TD></TR>
</TABLE>
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[{"type": "8-K", "sequence": "1", "filename": "v314752_8k.htm", "description": "CURRENT REPORT", "secsgml_size_bytes": 26693}]
{"company-data": {"conformed-name": "FREDERICK'S OF HOLLYWOOD GROUP INC /NY/", "cik": "0000093631", "assigned-sic": "2340", "irs-number": "135651322", "state-of-incorporation": "NY", "fiscal-year-end": "0726"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-05893", "film-number": "12875014"}, "business-address": {"street1": "6255 SUNSET BOULEVARD", "city": "HOLLYWOOD", "state": "CA", "zip": "90028", "phone": "323 466 5151"}, "mail-address": {"street1": "6255 SUNSET BOULEVARD", "city": "HOLLYWOOD", "state": "CA", "zip": "90028"}, "former-company": [{"former-conformed-name": "MOVIE STAR INC /NY/", "date-changed": "19950112"}, {"former-conformed-name": "SANMARK STARDUST INC", "date-changed": "19920703"}, {"former-conformed-name": "STARDUST INC /NY/", "date-changed": "19810526"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
May 23, 2012
Frederick's
of Hollywood Group Inc.
(Exact Name of Registrant as Specified in
Charter)
New York
001-5893
13-5651322
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
6255 Sunset Boulevard, Hollywood, CA
90028
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(323)
466-5151
N/A
(Former Name or Former Address, if Changed
Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e
4(c))
Item 1.01
Entry into a Material Definitive Agreement.
On May 23, 2012, Frederick's of Hollywood
Group Inc. (the "Company") entered into a Series A Preferred Stock Purchase Agreement ("Purchase Agreement"),
pursuant to which the Company sold $5.0 million of Series A Convertible Preferred Stock ("Preferred Stock") to TTG
Apparel, LLC (the "Purchaser"), which together with its affiliate, Tokarz Investments, LLC, are significant shareholders
of the Company. In addition, the Company issued to the Purchaser three, five, and seven year warrants, each to purchase 500,000
shares of common stock (for an aggregate of 1,500,000 shares of common stock) at exercise prices of $0.45, $0.53 and $0.60 per
share, respectively (the "Warrants").
The Company
is required by the terms of the Purchase Agreement to use the $5.0 million of proceeds of the sale of Preferred Stock solely for
paying, settling or discharging accounts payable of the
Company
.
The
Company intends to use the proceeds to pay a group of merchandise vendors a portion of their accounts payable and, in turn, receive
a total of approximately $4.9 million in markdown allowances.
The terms of the Preferred Stock are as
follows:
Dividends
. Cumulative dividends on
the Preferred Stock will be payable quarterly in arrears at the rate of 9% per annum in additional shares of Preferred Stock ("PIK
Shares"), except that from and after May 23, 2014, the rate will be the greater of 9% per annum or the highest rate the Company
is paying on any outstanding debt under its then existing credit facilities.
Conversion
. The Preferred Stock other
than the PIK Shares may be converted at any time, at the option of the holder, into shares of common stock at a conversion price
of $1.05 per share ("Conversion Price"), and the PIK Shares may be converted at any time, at the option of the holder,
into shares of common stock at a conversion price of $0.45 per share ("PIK Share Conversion Price"). The Conversion
Price and PIK Share Conversion Price will be adjusted for customary structural changes such as stock splits and dividends. The
Conversion Price will also be adjusted if the Company sells common stock or common stock equivalents at a price below the Conversion
Price, and the PIK Share Conversion Price will be adjusted if the Company sells common stock or common stock equivalents at a price
below the PIK Share Conversion Price; provided, however, that the foregoing conversion price adjustments can never result in a
conversion price of less than $0.29 per share ("Floor Conversion Price").
Ranking
. The Preferred Stock ranks,
with respect to rights upon a Liquidation Event (defined below), (a) junior to any other class or series of capital stock of the
Company created that by its terms ranks senior to the Preferred Stock; (b) senior to the common stock; (c) senior to any class
or series of capital stock of the Company created that does not specifically rank senior to or on parity with the Preferred Stock;
and (d) on parity with any class or series of capital stock of the Company created that by its terms ranks on parity with the Preferred
Stock.
Voting Rights
. Except as required
by law, the Preferred Stock will not have voting rights. However, as long as any shares of Preferred Stock are outstanding, the
Company may not, without the affirmative vote of the holders of a majority of the then outstanding shares of Preferred Stock, (a)
alter or change adversely the powers, preferences or rights given to the holders of the Preferred Stock, (b) amend its certificate
of incorporation or other charter documents in any manner that adversely affects any rights of the holders of the Preferred Stock,
(c) authorize or designate any new security ranking on a parity with or senior to the Preferred Stock, (d) issue any common stock
or debt or equity security convertible into common stock, whether senior, on parity or junior to the Preferred Stock, at a price
per share which is lower than the Floor Conversion Price or (e) issue any equity or debt in a Qualifying Investment (as defined
in the Certificate of Amendment
to the Certificate of Incorporation of the Company ("Certificate
of Amendment")
) where the securities issued in such investment are by their terms mandatorily redeemable by the Company.
2
Liquidation Rights
. Upon the occurrence
of an Acquisition or Asset Transfer (each as defined in the Certificate of Amendment) or upon any liquidation, dissolution or winding
up of the Company, whether voluntary or involuntary (any such Asset Acquisition, Asset Transfer, liquidation, dissolution or winding
up, a "Liquidation Event"), a holder of Preferred Stock will be entitled to receive in preference to the holders of
any capital stock of the Company junior to the Preferred Stock, an amount equal to: (i) the stated value of the Preferred Stock
plus all accrued but unpaid dividends thereon, multiplied by (ii)(A) 1.09 if the Liquidation Event takes place by May 23, 2013,
(B) 1.05 if the Liquidation Event takes place after May 23, 2013 but no later than May 23, 2014, or (C) 1.0 if the Liquidation
Event takes place after May 23, 2014, plus (x) the original value per share as of the date of issuance for any PIK Shares (as adjusted
for stock splits, reverse stock splits and similar capital adjustments) plus all accrued but unpaid dividends thereon, multiplied
by (y) the number of PIK Shares. A holder of the Preferred Stock will also have the right to require the Company to purchase its
shares of Preferred Stock for a price equal to the amount the holder would be entitled to receive upon a Liquidation Event in the
event of a cash investment in the Company (other than by holders of the Preferred Stock) resulting in a change in ownership of
more than 30% of the equity of the Company and the securities issued under such investment not being mandatorily redeemable by
the Company.
Optional Redemption by the Company
.
The Preferred Stock is redeemable, at the option of the Company, at any time. Upon redemption, a holder of Preferred Stock will
be paid: (a) for each share of Preferred Stock other than a PIK Share, a price equal to the stated value of the Preferred Stock
plus all accrued but unpaid dividends thereon multiplied by (i) 1.10 if the redemption occurs on or prior to May 23, 2015, (ii)
1.08 if the redemption occurs after May 23, 2015 but on or prior to May 23, 2017 or (iii) 1.0 if the redemption occurs after May
23, 2017, and (b) for each PIK Share, an amount equal to the stated value of the Preferred Stock plus all accrued but unpaid dividends
thereon.
The Company has agreed to file a registration
statement to register the resale of the shares of common stock issuable upon conversion of the Preferred Stock and exercise of
the Warrants within 60 days.
The foregoing is a summary of the Purchase
Agreement, Certificate of Amendment and Warrants, which is not complete, and is qualified in its entirety by reference to the full
text of those agreements, which are attached as exhibits to this Current Report on Form 8-K. Readers should review the Purchase
Agreement and all related agreements for a complete understanding of the terms and conditions associated with this transaction.
On May 24, 2012, the Company issued a press
release attached hereto as Exhibit 99.1, announcing the matters described in this Item 1.01.
Item 3.02
Unregistered Sales of Equity Securities.
The information set forth in Item 1.01 is
hereby incorporated by reference.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits.
3.1
Certificate of Amendment to the Company's Certificate of Incorporation
10.1
Series A Preferred Stock Purchase Agreement
10.2
Form of Warrant
99.1
Press release dated May 24, 2012
3
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, Frederick's of Hollywood Group Inc. has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Dated:  May 29, 2012
FREDERICK'S OF HOLLYWOOD GROUP INC.
By:
/s/ Thomas Rende
Thomas Rende
Chief Financial Officer
(Principal Financial and Accounting Officer)