Brief: Akumin Inc. Reaches Agreement With Stonepeak To Become A Private Company

Akumin

20/10/2023 23:22

Oct 20 (Reuters) - Akumin Inc  AKU.O :
    * AKUMIN INC. REACHES AGREEMENT WITH STONEPEAK TO BECOME A
PRIVATE
COMPANY
    * AKUMIN: CONTEMPLATED DEAL WILL RESULT IN EXISTING
STONEPEAK
NOTE, TOTALING ABOUT $470 MILLION, BEING CANCELLED, CONVERTED
INTO SHARES OF CO
    * AKUMIN INC - UNDER DEAL AKUMIN'S EXISTING STOCKHOLDERS
WILL GET
TOTAL OF $25 MILLION IN CASH
    * AKUMIN INC: COMPANY AND CERTAIN OF ITS SUBSIDIARIES WILL
COMMENCE PREPACKAGED CHAPTER 11 CASES IN TEXAS
    * AKUMIN INC: IN ADDITION, STONEPEAK WILL INVEST $130
MILLION IN
NEW MONEY INTO COMPANY AS A CAPITAL CONTRIBUTION
    * AKUMIN INC: CO'S SENIOR SECURED NOTES DUE 2028 WILL BE
EXCHANGED
FOR NEW SENIOR SECURED NOTES WITH SAME MATURITY DATE BUT AN
INCREASED INTEREST RATE

Further company coverage:  AKU.O 

 ((Reuters.Briefs@thomsonreuters.com;))