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July 31, 2014
08:58 EDTEVRYEveryWare Global announces $20M investment by Monomoy Capital Partners
EveryWare Global announced it amended its Term Loan Agreement and ABL Facility. The company also announced that it entered into a Securities Purchase Agreement with Monomoy Capital Partners, whereby Monomoy agreed to invest $20M in return for EveryWare's Series A Senior Redeemable Preferred Stock with a liquidation preference of $21.2M and warrants to purchase 4.44M shares of the company's common stock. The Term Loan Amendment provides for, among other things, a waiver of the events of default that occurred as a result of the Borrowers' failure to comply with the consolidated leverage ratio and interest coverage ratio covenants for the fiscal quarters ended March 31 and June 30, revised financial covenants through the life of the term loan, a 50 basis point amendment fee and an increase in the term loan interest rate by 200 basis points. The Term Loan Amendment also provides that the financial covenants contained in the Term Loan will not be measured until March 31, 2015. In addition, the Term Loan Amendment provides for the issuance of warrants to purchase an aggregate of 2.96M shares of the company's common stock with an exercise price of 1c per share to the lenders under the Term Loan Agreement. The ABL Amendment provides for, among other things, an increase in the maximum revolver amount available under the ABL Facility from $55M-$60M.
News For EVRY From The Last 14 Days
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November 17, 2014
08:46 EDTEVRYClinton Group pushes for merger of EveryWare Global, CSS Industries
Clinton Group, which together with its affiliates and fundsowns a significant stake in EveryWare Global (EVRY), announced that it has sent a letter to the Board of Directors of CSS Industries(CSS). "A merger of the two companies makes a lot of sense for all stakeholders while at the same time delivering a premium valuation and enhanced liquidity to CSS Industries," said Joseph A. De Perio, Senior Portfolio Manager of the Clinton Group. Clinton Group said it believes such a business combination could be achieved at a CSS share price of up to $34.00.
November 13, 2014
07:43 EDTEVRYEveryWare Global reports Q3 EPS ($2.43), may not compare to one estimate (48c)
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