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News Breaks | | | | March 13, 2013 | | 08:31 EDT |  | MLNK, SPLP | ModusLink investors vote to approve investment by Steel Partners
ModusLink (MLNK) stockholders voted to approve the investment by Steel Partners Holdings L.P. (SPLP), and the company announced that the investment has been consummated. Under the previously announced Investment Agreement, Steel Holdings has purchased 7.5 million newly issued shares of common stock at a price of $4.00 per share, representing a cash investment in the company, before fees and expenses, of $30M. In addition, as part of the transaction, the company has issued Steel Holdings warrants to acquire 2.0 million shares at an exercise price of $5.00 per share and Steel Holdings, together with certain affiliates, is allowed to purchase up to approximately 1.4 million shares of ModusLink’s outstanding common stock, subject to proportionate adjustment. | |
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