Intrado Announces Final Results of Offer to Purchase up to $100 million of 8.50% Senior Notes due 2025

Rhea-AI Summary

Intrado Corporation has announced the final results of its offer to purchase up to $100 million of its 8.50% Senior Notes due 2025. As of July 21, 2021, approximately 76.39% of the Notes, totaling $600,027,000, were tendered. Since the total tendered amount exceeded the offer amount, the purchase will be conducted on a pro rata basis. The settlement date for this offer is expected to be July 23, 2021. Notes not accepted will continue to accrue interest under the Indenture.

Positive

• Successfully tendered approximately 76.39% of outstanding 8.50% Senior Notes, representing $600,027,000.
• Pro rata purchase of notes indicates a strong demand and interest in the offer.

Negative

• None.

ISLANDIA, N.Y., July 22, 2021 (GLOBE NEWSWIRE) -- Intrado Corporation (the “Company” or “Intrado”), a global leader in technology-enabled services, today announced final results with respect to the Company’s previously announced offer to purchase for cash (the “Asset Sale Offer”) up to $100.0 million (the “Offer Amount”) of the Company’s outstanding 8.50% Senior Notes due 2025 (the “Notes”), at a price equal to 100% of the aggregate principal amount of such Notes, plus accrued and unpaid interest to, but excluding, the settlement date. The Asset Sale Offer is being made pursuant to the indenture governing the Notes (the “Indenture”) and an Offer to Purchase, dated June 22, 2021, which more fully set forth the terms and conditions of the Asset Sale Offer.

As of 5:00 P.M., Eastern Time, on July 21, 2021, the expiration time with respect to the Asset Sale Offer (the “Expiration Time”), the Company has been advised by Global Bondholder Services Corporation, Information Agent and Depositary for the Asset Sale Offer, that $600,027,000 (representing approximately 76.39%) of the aggregate principal amount of the Notes have been validly tendered and not withdrawn in the Asset Sale Offer. The aggregate principal amount of Notes tendered in the Asset Sale Offer exceeds the Offer Amount; therefore, the Notes to be purchased in the Asset Sale Offer will be selected on a pro rata basis as described in the Offer to Purchase. Any Notes not tendered or accepted for payment in the Asset Sale Offer will remain outstanding and will continue to accrue interest, if any, under the Indenture. The settlement date for the Asset Sale Offer is expected to be July 23, 2021.

Questions regarding the Asset Sale Offer should be directed to the Company at 402-716-6578. Global Bondholder Services Corporation will act as the Information Agent and the Depositary for the Asset Sale Offer. Requests for documentation should be directed to Global Bondholder Services Corporation at 212-430-3774 (for banks and brokers) or 866-924-2200 (for all others).

This press release does not constitute a notice of redemption under the optional redemption provisions of the Indenture, nor does it constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

About Intrado Corporation

Intrado Corporation is an innovative, cloud-based, global technology partner to clients around the world. Our solutions connect people and organizations at the right time and in the right ways, making those mission-critical connections more relevant, engaging, and actionable - turning Information to Insight.

Intrado has sales and/or operations in the United States, Canada, Europe, the Middle East, Asia Pacific, Latin America, and South America. Intrado is controlled by affiliates of certain funds managed by Apollo Global Management, Inc. (NYSE: APO). For more information, please call 1-800-841-9000 or visit www.intrado.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements include any statements that address future results or occurrences. In some cases you can identify forward-looking statements by terminology such as “may,” “might,” “will,” should,” “could,” or the negatives thereof. Generally, the words “anticipate,” “believe,” “continue,” “expect,” “intend,” “estimate,” “project,” “plan,” and similar expressions identify forward-looking statements. In particular, statements about our expectations, beliefs, plans, objectives, assumptions of future events or performance contained elsewhere in this press release are forward-looking statements. These forward-looking statements include statements that are not historical facts, including statements concerning our possible or assumed future actions and business strategies. We have based these forward-looking statements on our current expectations, assumptions, estimates, and projections. While we believe these expectations, assumptions, estimates, and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, many of which are outside of our control, which could cause our actual results, performance, or achievements to differ materially from any results, performance, or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such factors or to announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events, or developments. Statements in this press release are made as of the date hereof. New factors emerge from time to time that could cause our actual results to differ, and it is not possible to predict all such factors.

Contact

Dave Pleiss
Investor and Public Relations
DMPleiss@Intrado.com
402-716-6578

FAQ

What was the amount Intrado aimed to purchase in the Asset Sale Offer?

Intrado aimed to purchase up to $100 million of its outstanding 8.50% Senior Notes due 2025.

How much of the Senior Notes were tendered by the expiration date?

Approximately $600,027,000, or 76.39%, of the Senior Notes were tendered by the expiration date.

What is the settlement date for the Asset Sale Offer?

The settlement date for the Asset Sale Offer is expected to be July 23, 2021.

What will happen to the Notes not accepted in the Asset Sale Offer?

Any Notes not accepted will remain outstanding and continue to accrue interest under the Indenture.

Who acted as the Information Agent for the Asset Sale Offer?

Global Bondholder Services Corporation acted as the Information Agent and Depositary for the Asset Sale Offer.