MakeMusic Confirms Receipt Of Proposal From LaunchEquity Partners, LLC
MakeMusic, Inc. (NASDAQ: MMUS) confirms that it received, on July 15, 2012, a proposal from LaunchEquity Partners, LLC (“LaunchEquity”) to acquire the operating assets of MakeMusic, excluding cash, and assume the related liabilities of MakeMusic, free and clear of all liens and encumbrances, for $13.5 million. LaunchEquity’s proposal contemplates that MakeMusic would adopt a plan of liquidation, which would include a distribution of MakeMusic’s then available cash to existing shareholders. LaunchEquity and certain of its affiliates currently collectively own approximately 27.7% of MakeMusic’s outstanding common stock, according to the latest filings by LaunchEquity and its affiliates with the Securities and Exchange Commission.
Consistent with its fiduciary duties, MakeMusic’s Board of Directors has appointed a Special Committee of independent, disinterested directors to review and consider the proposal, in consultation with financial and legal advisors, and determine the course of action that it believes is in the best interests of MakeMusic and its shareholders. The Board has authorized the Special Committee to consider the full range of available strategic alternatives including, but not limited to, continuing as an independent, public company with MakeMusic’s current growth plans.
MakeMusic’s shareholders are advised that no offer or solicitation has been made to them at this time. There can be no assurance that the consideration of the proposal or the exploration of other strategic alternatives will result in any transaction. MakeMusic does not intend to disclose developments regarding its exploration of the current proposal or other strategic alternatives unless and until a transaction has been approved or final decision to discontinue all such exploration and continue as an independent, public company has been made.
About MakeMusic, Inc.MakeMusic
®, Inc. is a world
leader in music technology whose mission is to develop and market
solutions that transform how music is composed, taught, learned and
performed. For more than 20 years,
® has been
the industry standard in music notation software, enabling composers,
arrangers, musicians, teachers, students and publishers to create, edit,
audition, print and publish musical scores. MakeMusic is also the
® education software that is
transforming the way students practice. With SmartMusic, students and
teachers have access to thousands of band, orchestra and vocal pieces
allowing students to practice with background accompaniment and get
immediate feedback on their performance. SmartMusic allows teachers to
individualize instruction and document the progress of every student.
SmartMusic Inbox™, an Android™ and Apple
application, provides additional access for teachers to review, grade
and comment on student assignments.
MusicXML™ is an
Internet-friendly way to publish musical scores, enabling musicians to
distribute interactive sheet music online and to use sheet music files
with a wide variety of musical applications.
libraries provide musicians with state-of-the-art virtual instruments
with the playback quality of a live performance. Additional information
about this Minnesota company can be found at
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV