Note

Bombardier Announces Closing of its New Issuance of Senior Notes due 2031

Retrieved on: 
Thursday, April 4, 2024
Bombardier Inc., Sale, Regulation, Senior, Prospectus, Note, Debt-to-GDP ratio, Bombardier, Hand, Person

MONTRÉAL, April 04, 2024 (GLOBE NEWSWIRE) -- Bombardier Inc. (“Bombardier”) today announced that it has successfully closed its previously announced offering of US$750 million aggregate principal amount of Senior Notes due 2031 (the “New Notes”).

Key Points: 
  • MONTRÉAL, April 04, 2024 (GLOBE NEWSWIRE) -- Bombardier Inc. (“Bombardier”) today announced that it has successfully closed its previously announced offering of US$750 million aggregate principal amount of Senior Notes due 2031 (the “New Notes”).
  • The New Notes carry a coupon of 7.250% per annum, mature on July 1, 2031 and were sold at 99.75% of par.
  • The New Notes mentioned herein were offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the U.S. Securities Act and outside the United States in reliance on Regulation S under the U.S. Securities Act.
  • The New Notes were offered and sold in Canada on a private placement basis only to “accredited investors” pursuant to certain prospectus exemptions.

SiriusPoint Announces Pricing of Tender Offer for 4.600% Senior Notes due 2026

Retrieved on: 
Thursday, April 4, 2024
Tax, COVID-19, Acquisition, Security (finance), Insurance, Tender offer, Note, Expiration, Investment, Annual report, BMO Capital Markets, HSBC, Jefferies Group, Solicitation, Amendment, J.P. Morgan & Co.

Those who validly tender 2026 Notes and deliver consents before the Early Expiration Time will receive the Total Consideration for each $1,000 principal amount of accepted 2026 Notes.

Key Points: 
  • Those who validly tender 2026 Notes and deliver consents before the Early Expiration Time will receive the Total Consideration for each $1,000 principal amount of accepted 2026 Notes.
  • Those who validly tender 2026 Notes and deliver consents after the Early Expiration Time will receive the Total Consideration, less $50, for each $1,000 principal amount of accepted 2026 Notes.
  • The Tender Offer expires at 5:00 p.m., New York City time, on April 19, 2024, unless extended or earlier terminated by SiriusPoint (the “Tender Offer Expiration”).
  • SiriusPoint has further reserved the right, in its sole discretion, not to accept any tenders of 2026 Notes or deliveries of consents with respect to the 2026 Notes.

Brandywine Realty Trust Prices $400 Million of 8.875% Guaranteed Notes Due 2029

Retrieved on: 
Thursday, April 4, 2024
BofA Securities, Wells Fargo, Partnership, Telephone, Citizenship, Brandywine Realty Trust, Sale, Security (finance), Prospectus, Note, Broadridge Financial Solutions, Retirement, BDN

PHILADELPHIA, April 04, 2024 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (the “Company”) (NYSE: BDN) announced today that its operating partnership, Brandywine Operating Partnership, L.P. (the “Operating Partnership”), has priced an underwritten public offering of $400 million of its 8.875% guaranteed notes due 2029 (the “Notes”).

Key Points: 
  • PHILADELPHIA, April 04, 2024 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (the “Company”) (NYSE: BDN) announced today that its operating partnership, Brandywine Operating Partnership, L.P. (the “Operating Partnership”), has priced an underwritten public offering of $400 million of its 8.875% guaranteed notes due 2029 (the “Notes”).
  • Interest on the Notes will be payable semi-annually on April 12 and October 12 of each year, commencing October 12, 2024.
  • The Notes are being offered to investors at a price of 99.505% of their principal amount, plus accrued interest, if any, from April 12, 2024, with a re-offer yield of 9.000%.
  • The sale of the Notes is expected to close on April 12, 2024, subject to customary closing conditions.

InterDigital Announces Convertibility of 3.50% Senior Convertible Notes Due 2027

Retrieved on: 
Thursday, April 4, 2024
Common stock, Financial statement, Calendar, Research, InterDigital, IDCC, Note

WILMINGTON, Del., April 04, 2024 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC), a mobile and video technology research and development company, announced today that, pursuant to the terms of the Indenture governing its 3.50% Senior Convertible Notes due 2027 (the “Notes”), the Notes are convertible during its calendar quarter ending June 30, 2024.

Key Points: 
  • WILMINGTON, Del., April 04, 2024 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC), a mobile and video technology research and development company, announced today that, pursuant to the terms of the Indenture governing its 3.50% Senior Convertible Notes due 2027 (the “Notes”), the Notes are convertible during its calendar quarter ending June 30, 2024.
  • The current conversion rate of the Notes is 12.9041 shares of InterDigital’s Common Stock per $1,000 principal amount of the Notes.
  • At the time InterDigital issued the Notes, InterDigital entered into call spread transactions that together were designed to have the economic effect of reducing the net number of shares that will be issued in the event of conversion of the Notes by, in effect, increasing the conversion price of the Notes from InterDigital’s economic standpoint from $77.49 to $106.35.
  • Refer to Footnote 10 of the Financial Statements from InterDigital’s Form 10-K for the year ended December 31, 2023 for more information.

Cumulus Media Announces Further Extension of Expiration Time in Exchange Offer and Consent Solicitation Relating to 6.750% Senior Secured First-Lien Notes due 2026

Retrieved on: 
Wednesday, April 3, 2024
Consent, Letter, CMLS, Exchange, Settlement date, Senior, Note, Exchange offer, Solicitation, Security (finance)

The Exchange Offer and Consent Solicitation will expire at the Further Extended Expiration Time, unless extended or terminated.

Key Points: 
  • The Exchange Offer and Consent Solicitation will expire at the Further Extended Expiration Time, unless extended or terminated.
  • Questions or requests for assistance related to the Exchange Offer and Consent Solicitation or for additional copies of the Exchange Offer Documents may be directed to D.F.
  • You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Exchange Offer and Consent Solicitation.
  • The Exchange Offer and Consent Solicitation is being made solely by the Offering Memorandum.

Investigation into Avid Bioservices, Inc. Underway: Johnson Fistel, LLP Digs into Alleged Securities Law Violations - What Shareholders Need to Know!

Retrieved on: 
Wednesday, April 3, 2024
Failure, CDMO, Acceleration, SAN, LLP, Security (finance), Note, Investment, Debt-to-GDP ratio

SAN DIEGO, April 03, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of securities laws by Avid Bioservices, Inc. (NASDAQ: CDMO) ("Avid" or "the Company").

Key Points: 
  • SAN DIEGO, April 03, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of securities laws by Avid Bioservices, Inc. (NASDAQ: CDMO) ("Avid" or "the Company").
  • We are looking into whether the Company or its executives failed to disclose vital information to investors, leading to losses on their investments.
  • If you have purchased Avid securities and have experienced losses, we encourage you to join our investigation to potentially make claims and recover under federal securities laws.
  • What if I purchased Avid securities?

MannKind Repays Certain Debt Obligations

Retrieved on: 
Wednesday, April 3, 2024
MannKind Corporation, Note, Professional corporation, Patient, Loan agreement, Loan, Doctor of Pharmacy, Security (finance)

On April 1, 2024, MannKind made a payment to the lenders under the Loan Agreement of approximately $31.6 million, including a contractually obligated exit fee of $2.8 million and a prepayment fee of approximately $0.3 million, in full satisfaction of all of the Company’s debt obligations under the Loan Agreement, which would have matured on August 1, 2025.

Key Points: 
  • On April 1, 2024, MannKind made a payment to the lenders under the Loan Agreement of approximately $31.6 million, including a contractually obligated exit fee of $2.8 million and a prepayment fee of approximately $0.3 million, in full satisfaction of all of the Company’s debt obligations under the Loan Agreement, which would have matured on August 1, 2025.
  • In connection with the repayment of outstanding indebtedness by MannKind, all liens, mortgages and security interests in any assets or property securing the obligations under the Loan Agreement were automatically terminated and released and MannKind and its subsidiaries were automatically released from all guarantees.
  • Upon receipt of this consideration, all indebtedness under the Note was satisfied in full and all obligations under the Note were automatically terminated.
  • “Repaying the MidCap loan agreement eliminates our most expensive debt going forward and releases our assets from their security interests,” said Michael Castagna, PharmD, Chief Executive Officer of MannKind Corporation.

Nogin Announces Confirmation of Restructuring Plan

Retrieved on: 
Wednesday, April 3, 2024
Plan, Content as a service, LLP, United States bankruptcy court, Bankruptcy, Commerce, Note, Debt-to-GDP ratio, Hall

NEW YORK, April 03, 2024 (GLOBE NEWSWIRE) -- Nogin , a pioneer in Commerce-as-a-Service (CaaS) e-commerce technology and services, today announced that the United States Bankruptcy Court for the District of Delaware has confirmed its Chapter 11 Plan (the “Plan”) clearing the path for the company to successfully complete its financial restructuring.

Key Points: 
  • NEW YORK, April 03, 2024 (GLOBE NEWSWIRE) -- Nogin , a pioneer in Commerce-as-a-Service (CaaS) e-commerce technology and services, today announced that the United States Bankruptcy Court for the District of Delaware has confirmed its Chapter 11 Plan (the “Plan”) clearing the path for the company to successfully complete its financial restructuring.
  • Under the Plan, Nogin’s reorganized equity interests will be acquired by a newly formed entity sponsored by B. Riley Financial, Inc. (“B.
  • Riley”), and Nogin will continue to operate in the ordinary course.
  • served as bankruptcy counsel, Portage Point Partners provided interim restructuring and management services and Livingstone Partners LLC acted as investment banker to Nogin in its restructuring.

LuxAG partners with Arqit and Traxpay to finance digital negotiable instruments

Retrieved on: 
Wednesday, April 3, 2024
SCF, Partnership, ERP, Taxpayer Identification Number, Note, Promissory note, Security (finance)

LONDON, April 03, 2024 (GLOBE NEWSWIRE) -- Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit), Traxpay GmbH (Traxpay) and Lux Kapitalmarkt Management AG (LuxAG), have entered into a trade and supply chain financing partnership for Lux AG to invest in digital negotiable instruments (DNIs), enabling businesses to use DNIs to get easy access to new pools of working capital.

Key Points: 
  • LONDON, April 03, 2024 (GLOBE NEWSWIRE) -- Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit), Traxpay GmbH (Traxpay) and Lux Kapitalmarkt Management AG (LuxAG), have entered into a trade and supply chain financing partnership for Lux AG to invest in digital negotiable instruments (DNIs), enabling businesses to use DNIs to get easy access to new pools of working capital.
  • LuxAG is a Luxembourg based one-stop-shop service provider for capital market-oriented transactions, with a focus on the structuring and implementation of capital market-oriented transactions.
  • Arqit's first-of-its-kind technology delivers unique, referenceable and transferable digital finance instruments which have broad commercial application and enable businesses to get closer to pools of available liquidity and improve their cash flows.
  • Backed by Arqit’s robust security and Traxpay’s superior technology, we have the confidence to lend using digital negotiable instruments.

COMSTOCK RESOURCES, INC. ANNOUNCES UPSIZE AND PRICING OF $400.0 MILLION OFFERING OF SENIOR NOTES DUE 2029

Retrieved on: 
Tuesday, April 2, 2024
Sale, Security (finance), Note, CRK

FRISCO, TX, April 02, 2024 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE:CRK) ("Comstock" or the "Company") announced today the pricing of its private placement of new 6.75% senior unsecured notes due 2029 in the aggregate amount of $400.0 million, which was increased from the originally proposed $375.0 million (the "Notes").

Key Points: 
  • FRISCO, TX, April 02, 2024 (GLOBE NEWSWIRE) -- Comstock Resources, Inc. (NYSE:CRK) ("Comstock" or the "Company") announced today the pricing of its private placement of new 6.75% senior unsecured notes due 2029 in the aggregate amount of $400.0 million, which was increased from the originally proposed $375.0 million (the "Notes").
  • The Notes will be issued at 93% of par.
  • The offering is expected to close on April 9, 2024, subject to customary closing conditions.
  • The aggregate net proceeds from the sale of the Notes are expected to be approximately $365.0 million, after deducting the initial purchasers' discounts and other offering expenses.