Fila has closed down, according to its financial results.
The Swedish company announced that it had sold off 1.8 million shares worth $1.5 billion in its latest round of fundraising.
The sale comes just days after Fila announced its third quarter earnings, showing a net loss of about $1 million.
The company had also said that its third-quarter revenue would be lower than expected.
Fila is owned by China’s Alibaba Group, which owns popular clothing retailer Zara, the online retailer Zappos, and online dating site Match.com.
The new round of funding, announced earlier this week, comes just two months after Filas CEO, Ulrik Löhfeldt, left the company to start a new venture.
Filas shares were trading around $15 a share at the end of January.