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Atari to open subscription period for €25.8 million Oceanes due 2019
By Jennifer Chiou
New York, Jan. 28 - Atari SA announced that it will offer €25.8 million of bonds in the Oceane structure as the final step of its restructuring process.
The subscription period will run from Jan. 29 to Feb. 14.
The planned five-year convertibles will bear interest at 10% per year and will be convertible at a price of €0.25. The company's stock closed at €0.42 (Euronext: ATA) on Tuesday.
Including an over-allotment option, the total issue amount could be €28.75 million.
According to a company press release, the first €3 million of proceeds will be used to finance new projects. Remaining funds will go towards paying back funds extended by Alden and Ker Ventures, the balance of which was €25.5 million at the end of 2013.
Chief executive officer Frederic Chesnais and Ker Ventures will subscribe for €3.54 million of the issue.
Questions may be directed to Calyptus (attn: Marie Calleux; 33 1 53 65 68 68 or atari@calyptus.net).
Atari is a Paris entertainment and licensing company originally called Infogrames Entertainment, SA. Subsidiaries include Atari London Studio, Eden Games, Atari Interactive, Atari, Inc. and Humongous.
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