Update on Steel Holdings InvestmentAs announced on February 11, 2013, the Company has entered into an Investment Agreement with Steel Partners Holdings L.P. (“Steel Holdings”). Under the terms of the agreement, Steel Holdings would purchase 7.5 million newly issued shares of common stock at a price of $4.00 per share, representing a cash investment in the Company, before fees and expenses, of $30 million. In addition, at the closing of the transaction the Company would issue Steel Holdings warrants to acquire 2.0 million shares at an exercise price of $5.00 per share. The Company expects to close such transaction on or soon after March 12, 2013, subject to obtaining stockholder approval of the transaction at the Company’s 2012 Annual Meeting of Stockholders to be held on March 12, 2013, and the satisfaction of other enumerated closing conditions.
ModusLink Global Solutions Reports Financial Results For Second Quarter Of Fiscal 2013
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