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

Akumin

20/10/2023 22:03

Oct 20 (Reuters) - Akumin Inc  AKU.O :
    * AKUMIN INC. REACHES AGREEMENT WITH STONEPEAK TO BECOME A
PRIVATE
COMPANY
    * AKUMIN INC- CONTEMPLATED TRANSACTION WILL RESULT IN
EXISTING
STONEPEAK NOTE, TOTALING APPROXIMATELY $470 MILLION
    * AKUMIN INC: COMPANY AND CERTAIN OF ITS SUBSIDIARIES WILL
COMMENCE PREPACKAGED CHAPTER 11 CASES IN OF TEXAS
    * AKUMIN INC- UNDER DEAL AKUMIN'S EXISTING COMMON
STOCKHOLDERS
WILL RECEIVE A TOTAL OF $25 MILLION IN CASH
    * 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

Source text for Eikon:  ID:nPnYZD19a 
Further company coverage:  AKU.O