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!

Maxcom Announces Extension Of The Exchange Offer And Amendments And Supplements To Offering Memorandum And Consent Solicitation Statement

MEXICO CITY, March 27, 2013 /PRNewswire/ -- (NYSE: MXT, BMV: MAXCOM.CPO) – Maxcom Telecomunicaciones, S.A.B. de C.V. ("Maxcom" or the "Company") announced today that it has extended, amended and supplemented the pending exchange offer (the "Exchange Offer") for any and all of its outstanding 11% Senior Notes due 2014 (the "Old Notes") for its Step‐Up Senior Notes due 2020 (the "New Notes").

The Company is extending the early participation date, the withdrawal date and the expiration date to 5:00 p.m. New York City time on April 10, 2013. The expiration date of the concurrent equity tender offer for Maxcom's Series A Common Stock and related CPOs and ADSs (the "Equity Tender Offer") is also being extended by ten business days to April 10, 2013.

The exchange agent for the Exchange Offer has advised the Company that as of 5:00 p.m., New York City time, on March 27, 2013, approximately US$122,879,000, or 61.44%, of the Old Notes had been validly tendered and not withdrawn in the Exchange Offer. The depositary for the Equity Tender Offer has advised the purchaser in connection with the Equity Tender Offer that as of 5:00 p.m., New York City time, on March 27, 2013, approximately 354,699,991 of Maxcom's Series A Common Stock, or 44.89% of the total outstanding Series A Common Stock, had been validly tendered and not withdrawn in the Equity Tender Offer.

In addition, the Company is also amending and supplementing the Exchange Offer to (i) reflect that Maxcom has reduced the minimum tender condition in the Exchange Offer from 90% to 61.44% and to clarify that, if the minimum tender condition is not met, Maxcom retains the right, in its sole discretion, to decide whether to waive the minimum tender condition, (ii) reflect that the purchaser in connection with the Equity Tender Offer has waived the condition to the Equity Tender Offer that more than 50% of the capital stock of Maxcom is tendered by the expiration date and to clarify that if the Equity Tender Offer is consummated, the purchaser retains the right, in its sole discretion in accordance with Mexican law, to increase its capital contribution beyond the approximately US$45.0 million it has already committed and (iii) include Maxcom's audited consolidated financial statements as of December 31, 2012 and 2011 and January 1, 2011 and for the years ended December 31, 2012 and 2011.

The complete terms and conditions of the Exchange Offer and consent solicitation are described in the Offering Memorandum and Consent Solicitation Statement, copies of which may be obtained by eligible holders of the Old Notes by contacting D.F. King & Co., Inc., the information agent for the Exchange Offer and consent solicitation, at (800) 967-4607 (toll free).

The New Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements, and will therefore be subject to substantial restrictions on transfer.

The Exchange Offer is being made, and the New Notes are being offered and issued, only to registered holders of Old Notes (i) in the United States who are "qualified institutional buyers," as that term is defined in Rule 144A under the Securities Act and (ii) outside the United States and are persons who are not "U.S. persons," as that term is defined in Rule 902 under the Securities Act.

This announcement is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy the New Notes nor an offer to purchase Old Notes nor a solicitation of consents.  The Exchange Offer and consent solicitation is being made solely by means of the Offering Memorandum and Consent Solicitation Statement and Letter of Transmittal.

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 16,912.11 -70.48 -0.42%
S&P 500 1,969.95 -8.96 -0.45%
NASDAQ 4,442.6980 -2.2110 -0.05%

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