Chattem, Inc. Announces Amendment to Tender Offer and Consent Solicitation and Extension of Consent Date Relating to Its 8 7/8% Senior Subordinated Notes.Business Editors CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Dec. 20, 2000 Chattem, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CHTT), a leading marketer and manufacturer of branded consumer products, announced today that it has amended the terms of the tender offer and consent solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with (the "Tender Offer") relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc its outstanding 8 7/8% Senior Subordinated Notes due 2008 (the "1998 Notes") and has extended the date for Holders to consent to amendments to the Indenture An agreement declaring the benefits and obligations of two or more parties, often applicable in the context of Bankruptcy and bond trading. The term indenture primarily describes secured contracts and has several applications in U.S. law. pursuant to which the 1998 Notes were issued. The total consideration offered in the tender offer and consent solicitation has been increased to $785 per $1,000 principal amount of the 1998 Notes, which includes $772.50 for the tender offer and $12.50 for consents to the proposed amendments to the Indenture. The consent solicitation deadline (the "Consent Achievement Date") has been extended to 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 January 3, 2001, unless further extended. Holders who deliver consents on or prior to the Consent Date (one business day following the Consent Achievement Date) will be entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to the consent payment of $12.50 per $1,000 principal amount of the 1998 Notes. Holders who tender their 1998 Notes after the Consent Date will receive the total consideration less the consent payment. The expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of the tender offer is unchanged and will occur at 5:00 p.m. on January 10, 2001. No changes were announced with respect to the tender offer and consent solicitation with respect to Chattem's 12 3/4% Senior Subordinated Notes due 2004. This press release supplements the Company's Offer to Purchase and Consent Solicitation Statement relating to the Tender Offer. Holders of 1998 Notes electing to tender their Notes into the Tender Offer or deliver their consents to the proposed amendments must utilize the original Letters of Transmittal delivered with the December 11, 2000 Offer to Purchase and Consent Solicitation Statement. The Company will not distribute amended Letters of Transmittal. Statements concerning the Company's business outlook, anticipated profitability, sales, EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become , earnings per share, expenses or sales growth, together with other statements made in this press release that are not historical facts are "forward looking statements" as that term is defined under the federal securities laws. All forward looking statements are subject to the risks and uncertainties which could cause actual outcomes and results to differ materially from those expressed or projected, including those described in the Company's filings with the Securities and Exchange Commission. |
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