SoftBrands to distribute interest in AremisSoft trust on Aug. 13

By Lisa Kerner

Charlotte, N.C., July 30 - SoftBrands, Inc. said it expects to be acquired by an affiliate of Golden Gate Capital and Infor on or about Aug. 13 subject to completion of customary closing conditions.

According to SoftBrands, immediately prior to the merger's close it will transfer its 10% interest in any future net proceeds of the AremisSoft Liquidating Trust to SoftBrands stockholders and warrantholder Capital Resource Partners IV, LP.

The record date for the distribution is Aug. 13.

SoftBrands shareholders will vote on the merger agreement on Aug. 12.

As previously reported, SoftBrands agreed in June to be acquired for $0.92 in cash per common share in a deal valued at approximately $80 million including debt and preferred equity.

Minneapolis-based SoftBrands provides software to the manufacturing and hospitality industries.

Golden Gate Capital is a San Francisco-based private equity investment firm.

Infor is a private enterprise software company based in Alpharetta, Ga.

© 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.