Cents and Sensibility - Kimberly and Friends' Consortium Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: cvn2 who wrote (43525)	12/11/1999 1:17:00 AM
From: computer_doc	Read Replies (1) of 108040

I can't see any finality either. Their (DOCI)10-K filing states different terms for the agreement as opposed to the terms stated in the August 2nd News Release. It says holders will get a piece of the pie. Its a huge pie at that. Based on that I still do not think that this agreement has been set into motion and may not be at that. They are alive and partnered with LNUX to provide 24/7 support to it's customers. This is a stated Fact in LNUX's Corporate Profile. valinux.com biz.yahoo.com December 7, 1999 DECISIONONE HOLDINGS CORP (DOCI) Annual Report (SEC form 10-K) Excerpt from the above filing. Share Holders will still get a piece of the pie... DOCI is NOT just paper. Read the last sentence... On August 2, 1999, the Company announced an agreement in principle with the bank lending group and the holders of the 14% Notes on the restructuring of its indebtedness (the "Indebtedness Restructuring"). Under the terms of the final agreement, the bank lending group would exchange approximately $523 million in existing indebtedness for approximately 94.6 percent of the reorganized Company's equity and $250 million in new senior secured bank debt (the "New Credit Agreement"). The agreement further provides that the holders of the 14% Notes would exchange their notes for (a) warrants equal to approximately 4.2 percent of the reorganized Company's fully diluted equity, at an exercise price based on an enterprise value of $350 million and (b) warrants equal to approximately 2.0 percent of the reorganized Company's equity, at an exercise price based on an equity valuation of $280 million. The holders of the 9 3/4% Notes would exchange their notes for (a) approximately 5.0 percent of the reorganized Company's equity; (b) warrants equal to approximately 2.8 percent of the reorganized Company's fully diluted equity, at an exercise price based on an enterprise value of $350 million; (c) warrants equal to approximately 5.0 percent of the reorganized Company's equity, at an exercise price based on an equity valuation of $200 million; and (d) warrants equal to approximately 3.0 percent of the reorganized Company's equity, at an exercise price based on an equity valuation of $280 million. (((In addition, the holders of the 11 1/2% Notes and the holders of unsecured claims of Holdings would receive a total of approximately 0.4 percent of the reorganized Company's equity. )))) Jim Thoughts? Comments?

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next