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Stock Market & Financial Investment News

News Breaks
February 26, 2013
07:12 EDTBXCBlueLinx announces terms for $40M rights offering
BlueLinx announced that it has set the terms for its previously announced $40M rights offering. Under the terms of the rights offering, the company is distributing, at no charge, to the holders of its common stock on March 4, one non-transferable subscription right for each share of the Company's common stock then owned. Each subscription right will entitle the holder to purchase 0.35845026 of a share of common stock at the subscription price of $1.75 per whole share. The Company expects to utilize the estimated net proceeds of the rights offering of approximately $38.8M to repay indebtedness under its U.S. revolving credit facility.
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February 1, 2016
17:51 EDTBXCBlueLinx receives listing non-compliance notice from NYSE
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17:50 EDTBXCBlueLinx awarded three-year real estate loan extension
BlueLinx has entered into a term sheet with its existing real estate lenders, pursuant to which the term of its outstanding $159.8M estate loan will be extended for three years. Key terms of the extension also include a new maturity date of July 1, 2019; interest-only at an annual rate of 6.35%; principal pay-down of at least $60M by July 1, 2017, and at least an additional $55M pay-down by July 1, 2018. BlueLinx anticipates that the loan extension transaction will close in the next few weeks. BlueLinx received an independent third-party desktop valuation of its real estate portfolio in November 2015, which estimated the operating value of its properties in the $332M-$352M range. The current outstanding principal balance on the real estate loan is approximately $157.8M net of $2.0M in certain reserves.

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