Manugistics extends tender for 5% convertibles

New York, June 27 - Manugistics Group, Inc. said it has extended its tender offer for its 5% convertible subordinated notes due 2007.

The tender now ends at 5 p.m. ET on July 5 from 9 a.m. ET the same day.

As of 5 p.m. ET on June 26, Manugistics had received tenders for 1% of the notes.

The tender was announced on June 2 and the Rockville, Md., provider of synchronized supply chain and revenue management solutions said it will pay par for the notes plus accrued interest up to but excluding the payment date.

Conditions to the tender include completion of the completion of the acquisition of Manugistics by JDA Software Group, Inc., JDA obtaining a new senior secured credit facility and cash investment through a private equity financing and termination of Manugistics' existing credit facilities or receipt of waivers from the lenders.

The notes are currently convertible into Manugistics stock at $44.0625 per share. Manugistics stock closed at $2.50 on Tuesday.

Citigroup Corporate and Investment Banking is dealer manager for the tender (212 723-6106 or 800 558-3745). MacKenzie Partners, Inc. is the information agent (212 929-5500 or 800 322-2885).

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