DH Corp. to hold meetings for votes on 6%, 7% convertibles redemption

By Wendy Van Sickle

Columbus, Ohio, April 3 – DH Corp. will hold meetings on May 15 for the holders of its 6% convertible debentures due 2018 and the 5% convertible debentures due 2020 to vote on extraordinary resolutions to approve amendments to the convertibles’ respective indentures, according to a press release.

The amendments would require the company to redeem the debentures for cash, at any time on, or within 30 days of, the closing date of the acquisition of the company by entities controlled by Vista Equity Partners.

The 6% amendments contemplate a redemption price equal to the amount the holders would otherwise receive on conversion of their debentures, including any “make-whole premium shares” issuable following a cash change of control, plus a premium of 1%, plus accrued interest up to, but not including, the redemption date.

The 5% amendments contemplate a redemption price equal to 101% of the total principal amount, plus accrued interest up to, but not including, the redemption date.

April 3 is the record date for voting at the meeting.

If the amendments are not approved, the debentures will remain outstanding, and holders will have the right to convert their debentures prior to the closing of the acquisition or require that the company redeem the debentures at par following the closing of the acquisition, in each case without the premium offered in connection with the amendments.

DH is a Toronto-based financial technology provider.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.