YRC Worldwide Enters Into Note Purchase Agreement for $70 Million in New Capital

YRCWorldwide Inc. (Nasdaq: YRCW) today reported that it has entered into definitive agreements with investors who have agreed to purchase $70 million in new unsecured convertible notes in a private placement. The company will use the proceeds from the issuance of these new notes to satisfy its remaining 2010 note obligations, with any excess proceeds available to be used for general corporate purposes. The new notes have a term of four years with an interest rate of 6%, which is initially payable in shares of the company’s common stock.

The company expects the transaction to be fully funded into an escrow at closing to satisfy each of the company’s two maturity obligations in 2010.  The closing of the sale of the new notes is subject to a number of conditions, including the conversion of the company’s preferred stock into common stock. [Read the full article]

{loadposition in-article}

Generac Holdings Inc. (NYSE: GNRC – News), parent company of Generac Power Systems, Inc., has priced its initial public offering of 18,750,000 shares of its common stock at $13.00 per share. The shares began trading on The New York Stock Exchange on February 11, 2010 under the ticker symbol “GNRC.” In addition, Generac Holdings Inc. has granted the underwriters a 30-day option to purchase up to an additional 2,812,500 shares at the initial public offering price.

“This is a great achievement for Generac and we are extremely pleased by the success of our initial public offering,” said Aaron Jagdfeld, Generac Chief Executive Officer. “We are excited about the future of Generac as a publicly traded company.”

Generac Holdings Inc. [Read the full article]

Shares of Blackstone-backed Graham Packaging are rising after its pared-back IPO raised $166.7 million.

The York, Pa., supplier of containers for food, beverages and other consumer products sold 16.7 million shares for $10 — the bottom of the pricing range of its scaled-down initial public offering.

Weakness in the IPO market due to worries over the pace of the economic recovery are forcing underwriters to delay or cut deals to get them done.

Graham Packaging Co. shares rose 40 cents, or 4 percent, to $10.40 in morning trading on the New York Stock Exchange under the symbol “GRM.” [Read the full article]

Shares of Generac Holdings are dipping after its pared-back IPO raised $244.4 million.

The Waukesha, Wis., generator manufacturer sold 18.8 million shares for $13 apiece — below the $15 to $17 per share it had hoped to fetch.

Weakness in the IPO market due to worries over the pace of the economic recovery are forcing underwriters to delay or cut deals down to get them done.

Generac Holdings Inc. shares slipped 7 cents to $12.93 in morning trading on the New York Stock Exchange under the symbol “GNRC.” [Read the full article]

You may also like...