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Corrections Corporation of America Message Board

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  • avi29 avi29 Oct 26, 1999 8:28 AM Flag

    Some Thoughts

    Thanks for your response. I am unsure what you are referring to when you mention the possibility of a "strategic investor?" Could you please elaborate?

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    • The Amended Credit Facility restricts pzn/s
      ability to make the 1999 cash payment of the special
      dividend unless a. The Company has liquidity of at least
      $75 million b. the Company receives at least $100
      million in cash proceeds for the issuance of equity or
      similar secuities from a new investor receiving
      representation on the Company's Board of Directors c. New CCA
      receives at least $25 million in cash proceeds from the
      issuance of any combination of equity securities and
      subordinated debt. The Company may, however, pay up to $31
      million in cash if only a. and c. above are achieved.

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