This Day On The Street
Continue to site
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

Charming Shoppes, Inc. Announces Offer To Purchase Any Or All Of Its Outstanding 1.125% Senior Convertible Notes Due 2014 Through A Tender Offer

BENSALEM, Pa., June 28, 2012 /PRNewswire/ -- Charming Shoppes, Inc. ("Charming") announced that it has commenced a tender offer (the "Tender Offer") to accept for purchase any or all of its outstanding 1.125% Senior Convertible Notes due 2014 (the "Notes") on July 27, 2012 (the "Fundamental Change Repurchase Date"). Charming is offering to repurchase any or all of the $140,451,000 aggregate principal amount of the Notes outstanding as of June 27, 2012, at par plus accrued and unpaid interest. Tenders of the Notes must be made prior to the expiration of the Tender Offer at 11:59 p.m., New York City time, on July 26, 2012 (the "Exercise Expiration Date"), and may be withdrawn at any time prior to 11:59 p.m., New York City time, on the Exercise Expiration Date, through compliance with the proper withdrawal procedure outlined in the Notice of Fundamental Change, Offer to Purchase and Entry into Supplemental Indenture (the "Offer to Purchase").

Prior to the merger (the "Merger") through which Charming became a wholly owned subsidiary of Ascena Retail Group, Inc. ("Ascena"), each $1,000 principal amount of the Notes was convertible into 65.0233 shares of Charming common stock. As a result of the Merger, each $1,000 principal amount of the Notes is currently convertible into $477.92 in cash per $1,000 principal amount of Notes, which is an amount equal to the applicable conversion rate of 65.0233 multiplied by $7.35, the amount paid in the Merger for each share of Charming's outstanding common stock.

However, upon the terms and subject to the conditions of the Tender Offer, for each $1,000 principal amount of Notes validly tendered and not validly withdrawn pursuant to the Tender Offer, Charming will pay, in cash, $1,000 plus accrued and unpaid interest to, but not including, the Fundamental Change Repurchase Date. The Tender Offer began today, June 28, 2012, and will expire at 11:59 p.m., New York City time, on the Exercise Expiration Date.

None of Charming, Ascena, Charming's or Ascena's respective boards of directors, employees, advisors or representatives, or Wells Fargo Bank, National Association, the trustee, paying agent and conversion agent for the Tender Offer, is making any representation or recommendation to any holder of Notes as to whether or not to surrender or convert such holder's Notes. Noteholders must decide how many Notes they will tender, if any. The terms and conditions of the Tender Offer are described in the Offer to Purchase.

1 of 3

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.78 -1.10%
FB $117.64 0.78%
GOOG $694.33 0.48%
TSLA $240.75 -2.80%
YHOO $36.69 0.27%


Chart of I:DJI
DOW 17,780.73 -50.03 -0.28%
S&P 500 2,063.54 -12.27 -0.59%
NASDAQ 4,772.1850 -33.1060 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs