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Re: RTK value MrRats Apparently you have not read the documents and are just making stuff up again. I have to wonder what you hoped to accomplish with your repeating of the above since it was like most everything you post an attempt at obscuring the actual facts. RTK will give up just a bit more then 50% of its CVR shares leaving them with I think it was 10% of CVR I think GSO ends up with 11%. Before this transaction RTK and RNF had a combined debt of over $500m RTK will be left with $45m of that monster debt. "Remaining GSO Debt: $45 Million Term Loan" MrRats can check this out since he has assumed the role of arbitrator of truth. Simultaneously with the closing of the merger, Rentech will reduce its obligations to GSO Capital Partners by $150 million -$100 million of convertible preferred stock will be exchanged for: •$90 million of CVR units, and •$10 million of Rentech common shares -$50 million outstanding balance under term loan will be exchanged for units of CVR -Price of CVR units and Rentech shares equal to pre-closing vwap less 15% •Rentech receives a one-time call option to purchase any or all CVR units held by GSO for the period from 6-12 months after closing, at a price of 1.275 times the pre-closing VWAP •Benefits to Rentech -Reduces leverage and $9.4 million in annual cash payments for interest and dividends -Eliminates overhang of 45 million shares if preferred stock were converted -Rentech has opportunity to capture upside if CVR units appreciate |
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Msg # | Subject | Author | Recs | Date Posted |
71425 | Re: RTK value | star | 0 | 9/3/2015 4:09:14 PM |
71428 | Re: RTK value | star | 0 | 9/3/2015 4:31:01 PM |