By Jennifer Chiou
New York, Jan. 28 - Atari SA announced that it issued €28.33 million of bonds in the Oceane structure, including a partially exercised over-allotment option.
The subscription period for the bonds ran from Jan. 29 to Feb. 14, and the company offered €25.8 million Oceans with a €2.95 million greenshoe.
The issuer sold 113,325,208 Oceanes at €0.25 each for total proceeds of €28,331,302.
The five-year convertibles bear interest at 10% per year.
According to a prior company press release, the first €3 million of proceeds will be used to finance new projects. Remaining funds will go toward 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 were to subscribe for €3.54 million of the issue.
The offering was previously announced as the final step of the company's restructuring process.
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. The company's stock closed at €0.42 (Euronext: ATA) on Jan. 28, when the offer was announced.
| Issuer: | Atari SA
|
| Issue: | Bonds in Oceane structure
|
| Amount: | €28,331,302, including €2,531,302 greenshoe
|
| Maturity: | Feb. 25, 2019
|
| Coupon: | 10%
|
| Bonds: | 113,325,208
|
| Price: | €0.25
|
| Announcement date: | Jan. 28
|
| Issue date: | Feb. 24
|
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