Descartes Announces Convertible Debenture Offering.Business Editors WATERLOO, Ontario--(BUSINESS WIRE)--June 16, 2000 The Descartes Systems Group Inc. (Nasdaq:DSGX DSGX Dynamic Sound Generator Xtra (Sony) DSGX Dynamic Sound Generator Extra ) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :DSG DSG Direct Shift Gearbox (Audi) DSG Dosage DSG Deputy Secretary General DSG Dressing DSG Designate DSG Desmoglein DSG Duke Student Government (Duke University) .) announced today that it entered into an agreement with an investment bank for the sale of US$75,000,000 principal amount of 5.5% Convertible Subordinated Debentures subordinated debenture An unsecured bond with a claim to assets that is subordinate to all existing and future debt. Thus, in the event that the issuer encounters financial difficulties and must be liquidated, all other claims must be satisfied before (the "Debentures") due June 30, 2005. Each Debenture will be convertible into Common Shares at the option of the holder at any time at a conversion price of US$35 per share, being a rate of 28.57 Common Shares for each US$1,000 principal amount of Debentures. The offering is expected to close on or about June 30, 2000. The Debentures, and the Common Shares, if any, that may be issued upon conversion of the Debentures, have not been and will not be registered under 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. Securities Act of 1933, as amended and may not be offered, sold or delivered within the United States or to, or for the account of, U.S. persons absent registration or an applicable exemption from the registration requirements of such Act. |
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