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Stock Market & Financial Investment News

News Breaks
December 24, 2013
14:13 EDTYRCWYRC Worldwide, Avenue entered stock purchase pact December 22
On December 22, YRC Worldwide and holder Avenue entered into a stock purchase agreement with YRC Worldwide pursuant to which the "Avenue Purchasers agreed, subject to the terms and conditions set forth in the stock purchase agreement, to purchase shares of common stock and shares of a newly created series of preferred stock of the Issuer for an aggregate purchase price of $97,000,000. The purchase price under the Stock Purchase Agreement is $15 per share of common stock and $60 per share of preferred stock. Each share of preferred stock will initially be convertible into four shares of common Stock. The Avenue Purchasers will be issued a number of shares of common stock up to an amount that does not cause the Avenue Purchasers to beneficially own in excess of 19.99% of the shares of common stock in accordance with applicable NASDAQ listing rules.
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