This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Exide Technologies Announces Preliminary Results Of Tender Offer And Consent Solicitation For Outstanding 10 1/2% Senior Secured Notes Due 2013

MILTON, Ga., Jan. 25, 2011 (GLOBE NEWSWIRE) -- Exide Technologies (Nasdaq:XIDE), a global leader in stored electrical energy solutions, announced today the results to date of its previously announced cash tender offer for its outstanding 10 ½% Senior Secured Notes due 2013 (the "Notes") (CUSIP No. 302051AJ6) and the related consent solicitation to amend the indenture governing the Notes. The tender offer and the consent solicitation are being made on the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated January 10, 2011 (the "Offer to Purchase") and the related letter of transmittal and consent.

At or prior to 5:00 p.m., New York City time, on January 24, 2011 (the "Consent Deadline"), $276,069,000aggregate principal amount of Notes, representing approximately 95.20% of the aggregate principal amount of Notes outstanding, had been validly tendered and not validly withdrawn pursuant to the tender offer and the consent solicitation. The Company intends to accept for purchase all $276,069,000 aggregate principal amount of Notes validly tendered and not validly withdrawn at or prior to the Consent Deadline. Accordingly, the Company has received consents sufficient to approve the proposed amendments to the indenture governing the Notes. The Company and the trustee for the Notes will enter into a supplemental indenture containing the proposed amendments to the indenture governing the Notes, which amendments will become operative on the initial date of acceptance for purchase of the Notes validly tendered and not validly withdrawn pursuant to the tender offer and the consent solicitation.

In accordance with the Offer to Purchase, the consent solicitation expired at the Consent Deadline, and withdrawal rights under the tender offer terminated at the Consent Deadline. Accordingly, Notes validly tendered and not validly withdrawn at or prior to the Consent Deadline may no longer be withdrawn and consents validly delivered and not validly revoked at or prior to the Consent Deadline may no longer be revoked.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,658.99 -71.12 -0.40%
S&P 500 2,067.13 -9.65 -0.46%
NASDAQ 4,987.84 -21.3740 -0.43%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs