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April 10, 2013 /CNW/ - Livingston International Inc. ("
Livingston") announced today the extension of its tender offer for its
$135,000,000 principal amount of 10.125% Senior Unsecured Notes due 2015 (the "
5:00 p.m. (
April 17, 2013 (the "
New Expiration Time"). The terms and conditions of the tender offer are set forth in the Offer to Purchase and Consent Solicitation Statement dated
March 5, 2013 and the related Consent and Letter of Transmittal (collectively, the "
As a result of the extension, Livingston will calculate the Total Consideration and Offer Consideration (each as defined in the Offer Documents) on
April 15, 2013 (the Price Determination Date, as defined in the Offer Documents), using the methodology described in the Offer Documents. Livingston intends to announce the results of such calculations on the same date.
As previously announced, as of
5:00 p.m. (
March 19, 2013 (the Early Participation Time, as defined in the Offer Documents), approximately
$130.1 million or 97.5% of the aggregate principal amount of the outstanding Notes had been validly tendered and not withdrawn (as reported by the depositary).
The obligation of Livingston to accept for purchase and make payment for the Notes pursuant to the tender offer remains conditioned on, among other things, the satisfaction or waiver of the General Conditions (as defined in the Offer Documents) and the consummation by Livingston of new credit facilities in a principal amount and on terms and conditions satisfactory to Livingston, in its sole discretion, as described in more detail in the Offer Documents. If any of the tender offer conditions are not satisfied or waived, Livingston will not be obligated to accept for purchase or make payment for any Notes tendered pursuant to the tender offer or may terminate the tender offer. Subject to the satisfaction or waiver of the conditions of the tender offer, Livingston expects to accept for purchase and make payment to the depositary for Notes validly tendered prior to the New Expiration Time within three business days of the New Expiration Time.