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ModusLink Global Solutions, Inc. Message Board

  • spook2b spook2b Mar 18, 2014 4:28 PM Flag

    Done deal

    MLNK filed with the SEC tonight. Merrill looks like the lead on the convert offering, and they exercised the option for $10M more, so the sale is for $100M ($96.5M to the company after expenses):

    On March 13, 2014, the Company entered into a purchase agreement (the "Purchase Agreement") with Merrill Lynch, Pierce, Fenner & Smith Incorporated (the "Initial Purchaser"), pursuant to which the Company agreed to sell $90 million in aggregate principal amount of the Notes to the Initial Purchaser, with an option for the Initial Purchaser to purchase up to an additional $10 million in aggregate principal amount of Notes, in a private placement exempt from the registration requirements under the Securities Act. On March 17, 2014, the Initial Purchaser informed the Company that it had exercised its option to purchase the additional $10 million in aggregate principal amount of Notes. On March 18, 2014, the Company issued $100 million in aggregate principal amount of the Notes. The Company estimates that the net proceeds from the offering of the Notes will be approximately $96.5 million, after deducting the Initial Purchaser's discounts and estimated offering expenses. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include potential acquisitions and other strategic business opportunities. No material acquisitions are probable at this time. The Initial Purchaser and its affiliates may, from time to time, engage in investment banking, commercial banking and other transactions with and perform services for the Company or its subsidiaries in the ordinary course of their business.

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MLNK
3.7702-0.0098(-0.26%)2:37 PMEDT

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