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"Our goal in executing these convertible debt transactions was to significantly reduce potential share dilution, while also reducing short term debt and effectively extending the maturity date of a certain portion of our notes by over four years," said
The company's exchange offer, the cash issuance and the repurchase are expected to close on
The New Notes will be senior unsecured obligations and pay interest semiannually in arrears at a rate of 3.75% per annum on
After completion of the convertible debt transactions, the company expects to continue to explore opportunities to better position itself to repay or refinance the remaining
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the New Notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
The offer and sale of the New Notes and any shares of the company's common stock issuable upon conversion have not been registered under the Securities Act or any state securities laws. The New Notes may not be offered or sold in
The company had approximately
Safe Harbor Statement
This press release contains forward-looking statements, including statements regarding potential changes to the company's capital structure, the terms of the New Notes, the exchange offer, the cash issuance, and the repurchase. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in or implied by the forward-looking statements, including, without limitation, whether or not the company will be able to consummate the exchange offer, the cash issuance or the repurchase on the timelines or with the terms anticipated, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations, including but not limited to the risks detailed from time to time under the heading "Risk Factors" in the company's report on Form 10-K, filed on
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