Advanstar Commences Tender Offer for Senior Subordinated Notes.Business Editors BOSTON--(BUSINESS WIRE)--Nov. 10, 2000 Advanstar Communications Inc. announced today that it is commencing a change of control offer for its $150 million aggregate outstanding principal amount of 9 1/4% Senior Subordinated Notes due 2008 (the "Notes"). The purchase price for the Notes that are properly tendered and accepted for purchase will be 101% of the principal amount of the Notes plus accrued ac·crue v. ac·crued, ac·cru·ing, ac·crues v.intr. 1. To come to one as a gain, addition, or increment: interest accruing in my savings account. 2. and unpaid interest, payable in cash. The change of control offer is scheduled to expire at 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on Thursday, January 4, 2001. The change of control offer is being made in connection with the previously announced and completed sale (the "Acquisition") of Advanstar, Inc., the parent company of Advanstar Communications Inc., to DLJ Merchant Banking Partners DLJ Merchant Banking Partners (DLJMB) is a LBO-focused private equity firm of Credit Suisse. DLJMB has offices in New York, London and Los Angeles. External links
The term indenture primarily describes secured contracts and has several applications in U.S. law. governing the Notes. This announcement is not an offer to purchase, a solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to purchase or a solicitation of consents, with respect to the Notes. The change of control offer is being made solely by the Offer to Purchase dated November 10, 2000. The offering materials include important information about the Acquisition and its impact on the Company, and we urge all investors and potential investors to carefully read all of the offering materials. Requests for assistance or copies of the offering materials may be directed to the information agent, MacKenzie Partners, Inc. at (212) 929-5500 (call collect) or (800) 322-2885 (toll free). Advanstar, Inc. and its subsidiaries, including Advanstar Communications Inc., are worldwide providers of integrated, business-to-business, or "B-to-B", marketing communications Marketing communications (or marcom) are messages and related media used to communicate with a market. Those who practice advertising, branding, direct marketing, graphic design, marketing, packaging, promotion, publicity, sponsorship, public relations, sales, sales products and services for targeted industry sectors, principally through trade shows and conferences and through controlled circulation trade, business and professional magazines. Advanstar, Inc. and its subsidiaries also provide a broad range of other marketing services products, including classified advertising, direct mail services, reprints, database marketing, directories, guides, reference books and internet based advertising, sponsorship and custom projects. Advanstar, Inc. and its subsidiaries also provide business-to-business content and services over the Internet. As of September 30, 2000, Advanstar, Inc. and its subsidiaries operated 79 web sites which provide an interactive component to its core products, owned and managed 91 trade shows and 16 stand-alone conferences for business, professional and consumer audiences worldwide, and published 71 specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. business magazines and professional journals and 35 directories and other publications. Advanstar, Inc., together with its subsidiaries, has more than 1,500 employees and currently operates from multiple offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , Europe and Asia. For more information, visit http://www.advanstar.com. |
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