Apogent extends tender offer for 6½% notes

New York, July 2 - Apogent Technologies Inc. (Ba2/BB+) said it has extended the expiration of its tender offer for its 6½% senior subordinated notes due 2013 and the related solicitation of noteholder consents to proposed indenture changes.

The expiration deadline - which also coincides with the offer's consent deadline - was extended to 5 p.m. ET July 16, subject to possible further extension, from the originally announced 5 p.m. ET July 1. As of the old deadline, $62.350 million principal amount of the notes had been tendered under the terms of the tender offer.

As previously announced, Apogent Technologies, a Portsmouth, N.H.-based laboratory and life sciences products company, said on May 28 that it had begun a cash tender offer for all its $250 million principal amount of the 6½% notes and was also soliciting consents to amend the notes to eliminate substantially all of the restrictive covenants.

The company initially set a June 11 consent deadline, which was later extended to coincide with the tender offer expiration, and initially said that the offer would expire at 5 p.m. ET July 1, which was also later extended.

It initially said it would offer 101.75% of par for holders tendering by the consent deadline and 101% of par for holders tendering after that point but before the July 1 expiration date. The company subsequently extended the consent deadline to coincide with the expiration so that all holders would receive the same consideration. All tendering holders would also receive accrued interest up to but not including the settlement date.

The company said holders could not consent to the amendments without also tendering their notes and could not revoke their consents without also withdrawing the previously tendered notes.

It further said that the tender offer and consent solicitation would be conditioned upon the completion of the proposed merger between Apogent and Fisher Scientific International Inc. and the receipt of the required consents in the consent solicitation.

On June 18, Apogent said it had extended the consent deadline to coincide with the tender offer expiration deadline (at the time, 5 p.m. ET July 1, but subsequently extended, along with the consent deadline). It said that all tendering holders would now receive the previously announced total consideration.

Goldman, Sachs & Co. is the dealer manager and solicitation agent (800 828-3182). Innisfree M&A Inc. is the information agent (888 750-5834).

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