By Marisa Wong
Madison, Wis., Feb. 20 Atari SA announced that investors subscribed for 5 million of its 7.5% convertible bonds in the Oceane structure due 2020.
The offering had an initial size of 16 million and included a 2.4 million greenshoe, as announced on Dec. 15. The subscription period ran through Feb. 12.
The Oceanes were sold at 0.35 apiece.
As of Thursday, the breakdown of the orders is as follows: 1.2 million from the public, 50,000 from Ker Ventures and 3.8 million from California US Holdings, which is a wholly owned subsidiary of Atari.
On Friday, the company announced that following a 48-hour withdrawal period ending Feb. 18 at midnight, the amount of subscriptions settled in cash came to 1.17 million.
According to the bonds prospectus, the issuer hosts a two-day withdrawal period if the offering is less than 75% subscribed (less than 12 million).
Proceeds will be used to help refinance the companys 11 million Alden loan, which is set to mature on Sept. 30, 2015.
Atari is a Paris entertainment and licensing company.
| Issuer: | Atari SA
|
| Issue: | Oceanes
|
| Amount: | 16 million
|
| Greenshoe: | 2.4 million
|
| Maturity: | Feb. 17, 2020
|
| Coupon: | 7.5%
|
| Price: | 0.35
|
| Investors: | Ker Ventures (50,000), public (1.2 million), California US Holdings (3.8 million)
|
| Offer period: | Dec. 15-Feb. 12
|
| Withdrawal period: | Feb. 17-Feb. 18
|
| Settlement date: | Feb. 19 (for 1.17 million)
|
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