Houghton Mifflin Harcourt Announces Commencement of Asset Sale Offer and Collateral Asset Sale Offer to Purchase Up to $158 Million of Senior Secured Notes
Retrieved on:
Tuesday, May 11, 2021
(the "Purchaser") and solely for purposes of guaranteeing the obligations of the Purchaser under the Purchase Agreement, News Corporation, the Purchaser\'s parent company.\nThe Books & Media Asset Sale constituted an "Asset Sale" under the Indenture requiring an "Asset Sale Offer" and "Collateral Asset Sale Offer" under the Indenture.
Key Points:
- (the "Purchaser") and solely for purposes of guaranteeing the obligations of the Purchaser under the Purchase Agreement, News Corporation, the Purchaser\'s parent company.\nThe Books & Media Asset Sale constituted an "Asset Sale" under the Indenture requiring an "Asset Sale Offer" and "Collateral Asset Sale Offer" under the Indenture.
- The source of funds is cash on hand from the proceeds of the Books & Media Asset Sale.\nThe Asset Sale Offer will expire at 11:59 p.m., New York City time, on June 8, 2021, unless extended by the Company, in its sole discretion (the "Expiration Time").
- The Asset Sale Offer is made only by and pursuant to the terms set forth in the Offer Documents, and the information in this press release is qualified by reference to those documents.
- Subject to applicable law, the Company may amend, extend or terminate the Asset Sale Offer.\nThis press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any Notes.