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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Actuant Announces Early Tender Results And Receipt Of Requisite Consents For Its 6.875% Senior Notes Due 2017

Actuant Corporation (NYSE: ATU) announced today that it had received, as of 5:00 p.m., New York City time, on April 13, 2012 (the “Consent Expiration”), tenders and consents from holders of approximately 91.5% of the aggregate principal amount of its outstanding 6.875% Senior Notes due 2017 (the “Existing Notes”), in connection with its previously announced tender offer and consent solicitation for the Existing Notes, which commenced on April 2, 2012 and is described in the Offer to Purchase and Consent Solicitation Statement dated April 2, 2012 (the “Offer to Purchase”).

Actuant intends to execute later today a supplemental indenture (the “Supplemental Indenture”) with respect to the indenture governing the Existing Notes, which will eliminate most of the covenants and certain default provisions applicable to the Existing Notes. The Supplemental Indenture will not become operative until a majority in aggregate principal amount of the Existing Notes has been purchased by Actuant pursuant to the terms of the tender offer and the consent solicitation, which is expected to occur today.

Actuant’s obligation to accept for purchase, and to pay for, any Existing Notes pursuant to the tender offer is subject to a number of conditions that are set forth in the Offer to Purchase, including the closing today of Actuant’s offering of 5.625% senior notes due 2022. Subject to the satisfaction or waiver of these conditions, all holders who validly tendered (and did not validly withdraw) their Existing Notes prior to the Consent Expiration will receive total consideration equal to $1,042.16 per $1,000 principal amount of the Existing Notes, which includes a consent payment of $30.00 per $1,000 principal amount of the Existing Notes, plus accrued and unpaid interest on the Existing Notes up to, but not including, the payment date for the Existing Notes.

Holders who tender (and do not validly withdraw) their Existing Notes after the Consent Expiration and prior to the expiration of the tender offer will be entitled to receive consideration equal to $1,012.16 per $1,000 principal amount of the Existing Notes, plus any accrued and unpaid interest on the Existing Notes up to, but not including, the payment date for such Existing Notes accepted for purchase. Holders of Existing Notes tendered after the Consent Expiration will not receive a consent payment. The tender offer will expire at 12:00 midnight, New York City Time, on April 27, 2012, unless extended by Actuant in its sole discretion.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,039.49 +60.36 0.36%
S&P 500 1,992.37 +5.86 0.30%
NASDAQ 4,532.1040 +5.6220 0.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs