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ModusLink Global Solutions, Inc. Message Board

  • spook2b spook2b Mar 12, 2014 4:27 PM Flag

    convertible note offering

    ModusLink Global Solutions, Inc. (“ModusLink”) (MLNK) today announced its intention to offer $75 million aggregate principal amount of convertible senior notes due 2019 (the “notes”), subject to market conditions and other factors. The notes are to be offered and sold to qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended (the “Securities Act”). ModusLink also expects to grant the initial purchaser of the notes a 30-day option to purchase up to an additional $11.25 million aggregate principal amount of the notes.

    $75 Million + $11.24M greenshoe. My guess is that they're raising money to make an acquisition. It looks as if they're still stuck at 73% on the BOD vote proposal. I'm going to look at the conversion terms for these notes to see if the note holders might convert to common at some point...

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    • ModusLink 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.



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