Cornerstone Secures Commitment for Financing to Complete Vestcom International Acquisition.Business Editors WEST CALDWELL West Caldwell, borough (1990 pop. 10,422), Essex co., NE N.J., a residential suburb of Newark and New York City; inc. 1904. It has some light manufacturing. , N.J.--(BUSINESS WIRE)--Sept. 11, 2002 Vestcom International, 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 : VESC VESC Vehicle Equipment Safety Commission VESC Ventures Education Systems Corporation VESC Virginia Eastern Shore Corporation VESC Valentine Eleebana Soccer Club (Australia) VESC Virginia Erosion and Sediment Control ) announced today that Cornerstone Equity Investors IV, L.L.C. has received a commitment letter from CapitalSource Finance LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a leading senior and mezzanine commercial lender Whilst nearly all lenders offer loans on a commercial basis the term commercial lender has differed meanings around the world.
This facility, together with funds to be furnished by Cornerstone, represent sufficient financing to pay the merger consideration of $6.25 per share and the estimated fees and expenses associated with Vestcom's previously announced merger agreement with Cornerstone. This senior credit facility replaces the senior credit facility that Cornerstone previously had been negotiating. The proposed merger with Cornerstone remains subject to shareholder approval and other closing conditions. As previously announced, Vestcom and Cornerstone are currently defending litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , commenced by an unsuccessful bidder and its affiliate (H.I.G. Capital, L.L.C. and Nantucket Holdings, Inc.), relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the proposed merger. A hearing on plaintiffs' application seeking preliminary restraints to enjoin To direct, require, command, or admonish. Enjoin connotes a degree of urgency, as when a court enjoins one party in a lawsuit by ordering the person to do, or refrain from doing, something to prevent permanent loss to the other party or parties. consummation of the merger, and on Cornerstone's motion to dismiss plaintiffs' complaint in its entirety, has been scheduled by the New Jersey Superior Court for September 25, 2002. Vestcom International, Inc. is a leading provider of business communications solutions, customer relationship management and retail marketing services, using technology and innovation to supply enhanced value to all phases of communications between businesses and their customers. Vestcom employs approximately 1,000 individuals and serves customers throughout the US and Canada. More information about Vestcom and its services can be found on the World Wide Web at www.vestcom.com. Cornerstone Equity Investors IV, LLC, the general partner of Cornerstone Equity Investors IV, L.P., is a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of based private equity firm with more than $1.2 billion in aggregate committed capital. The firm specializes in sponsoring buyouts of growth companies in the business services, technology, healthcare and consumer products industries. Cornerstone information is available via its home page at www.cornerstone-equity.com. Vestcom International, Inc. plans to file a proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. with the Securities and Exchange Commission relating to its proposed business combination with a newly-formed corporation organized by Cornerstone Equity Investors IV, L.P. Investors and shareholders are urged to read the proxy statement when it becomes available, because it will contain important information about Vestcom, the proposed business combination and related matters. When the proxy statement is completed, Vestcom plans to send it to its shareholders to seek their approval of the proposed business combination. A copy of the proxy statement (when it is filed) and other documents filed by Vestcom with the SEC are available at the SEC's web site at http://www.sec.gov. Vestcom's shareholders may also obtain the proxy statement and other documents without charge by directing a request to Vestcom International, Inc., Attention: Michael D. Helfand, 5 Henderson Drive, West Caldwell, New Jersey 07006, Telephone: (973) 882-7000. Vestcom, Cornerstone, the two entities formed by Cornerstone to effectuate ef·fec·tu·ate tr.v. ef·fec·tu·at·ed, ef·fec·tu·at·ing, ef·fec·tu·ates To bring about; effect. [Medieval Latin effectu the business combination (Vector Investment Holdings, Inc. and its wholly-owned subsidiary, Vector Merger Corp.) and their respective directors, executive officers and employees and certain other persons may be deemed to be participants in the 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 proxies from Vestcom's shareholders to approve the proposed business combination. These individuals may have interests in the proposed business combination, some of which may differ from or may be in addition to those of Vestcom's shareholders generally. Certain officers of Vestcom will be entitled to receive employment agreements and other equity compensation in connection with the proposed business combination, which will be more fully described in the proxy statement Vestcom plans to file with the SEC. Certain information concerning the participants in the solicitation, such as their relevant affiliations and shareholdings of Vestcom's Common Stock, are contained in Vestcom's definitive proxy statement filed with the SEC on May 20, 2002. This proxy statement is available from the SEC's web site or from the Company, as described above. Additional information about the participants in the solicitation will be contained in Vestcom's proxy statement with respect to the proposed business combination, when it is filed with the SEC. Note: News releases and other information about Vestcom can be accessed at www.vestcom.com. |
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