Brookstone once more extends its offer to purchase, exchange 12% notes

By Susanna Moon

Chicago, July 16 - Brookstone, Inc. announced another extension to its wholly owned subsidiary Brookstone Co., Inc.'s offer to purchase for cash or exchange any and all outstanding 12% second-lien secured notes due 2012.

The offer expiration has been moved to 5 p.m. ET on Aug. 13, extended from July 16. It was originally set to expire on June 4.

The Merrimack, N.H., specialty retailer is also soliciting consents to amend the notes.

Holders who tendered prior to May 19 will receive the $800 per $1,000 principal amount total consideration. Those who tendered after will receive $770 per $1,000 principal amount of notes.

On June 29, the company said it had spoken with several of the larger holders of its 12% notes about possible changes to the offer to purchase for cash or exchange the notes.

Specifically, the company and holders discussed an increase of the payout in the offer to $820 per $1,000 principal amount.

Brookstone said it had not yet changed the offer.

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