Urges DXL Shareholders to Secure Significant and Immediate Cash Value by Tendering

into Zodiac's Offer

West Palm Beach FL, May 12, 2026 (GLOBE NEWSWIRE) -- Zodiac Partners II, LLC an acquisition entity of Camac Fund, today announced that it is commencing an all-cash tender offer to acquire all outstanding shares of Destination XL Group, Inc. (NASDAQ:DXLG) for $0.82 per share. This price implies an approximately 26% premium above DXL's closing share price of $0.6513 per share as of May 11th, 2026. The total transaction value is approximately $46 million.

Compelling All-Cash Alternative

Zodiac's proposal provides shareholders with the opportunity to realize immediate all-cash value, in contrast to the inherent uncertainty and risk associated with DXL's proposed all-stock Full Beauty Brands merger. Full Beauty Brands is a formerly bankrupt company, and we believe this proposed merger with DXL would add harmful complexity, a new management team and a large debt burden in a very uncertain macro environment. Zodiac's offer represents certainty of value and does not rely on future projections of synergy.

Go-Forward Timeline after Private Board approach

To date, DXL has refused to provide Zodiac access to a data room or the customary information required to complete confirmatory diligence. Zodiac Partners has previously approached the board privately with a detailed take-private proposal, however, after brief conversations, multiple requests for diligence access have been rebuffed and the current offer is therefore based solely on publicly available information. Notwithstanding this lack of access, Zodiac Partners remains fully prepared to proceed immediately and is confident it can execute a Definitive Agreement within 45 days of being granted appropriate access.

Financing

Zodiac Partners II, LLC has secured a conditional financing commitment from Eclipse Business Capital. The proceeds from the conditional financing commitment, together with Zodiac's equity commitment, will be sufficient to pay 100% of the purchase consideration, any required refinancing of DXL's debt, and associated transaction fees and expenses. Zodiac's equity commitment is fully committed and not subject to conditions. The conditional financing commitment from Eclipse Business Capital includes customary diligence-related conditionality, reflecting the practical reality that full binding commitments cannot be obtained without access to non-public information. Zodiac is confident that with appropriate diligence access, these conditions can be satisfied within the 45-day timeline.