Brief: Tuesday Morning Secures Commitment For Strategic Investment From Group Led By Retail Ecommerce Ventures

Tuesday Morning

09/09/2022 23:28

Sept 9 (Reuters) - Tuesday Morning Corp  TUEM.O :
    * TUESDAY MORNING SECURES COMMITMENT FOR STRATEGIC
INVESTMENT FROM
GROUP LED BY RETAIL ECOMMERCE VENTURES, THE OWNER OF PIER 1
IMPORTS AND TOP CONSUMER BRANDS
    * TUESDAY MORNING CORP - TRANSACTION TO RESULT IN A "CHANGE
IN
CONTROL" OF TUESDAY MORNING
    * TUESDAY MORNING CORP- TERMS ALSO INCLUDE A LICENSING
AGREEMENT
THAT WILL ENABLE TUESDAY MORNING TO SELL PIER 1 PRODUCTS
    * TUESDAY MORNING CORP - RETAIL ECOMMERCE VENTURES AND AYON
CAPITAL DESIGNATING A MAJORITY OF BOARD
    * TUESDAY MORNING CORP - ENTERED INTO AN AGREEMENT TO SECURE
$32
MILLION IN CONVERTIBLE DEBT FINANCING FROM A SPECIAL PURPOSE
VEHICLE
    * TUESDAY MORNING CORP - WILL ENTER INTO A NEW LICENSING
AGREEMENT
THAT WILL ALLOW COMPANY TO SELL PIER 1 PRODUCTS
    * TUESDAY MORNING - TRANSACTION INCLUDES PURCHASE BY SPV OF
$7.5
MILLION IN AGGREGATE PRINCIPAL AMOUNT OF FILO C TERM LOAN NOTES
DUE DECEMBER 31, 2027
    * TUESDAY MORNING CORP - TUESDAY MORNING'S BOARD OF
DIRECTORS WILL
BE RECONSTITUTED AS A NINE-MEMBER BOARD
    * TUESDAY MORNING CORP- TUESDAY MORNING'S MANAGEMENT TEAM
REMAINS
IN PLACE UNDER FRED HAND'S LEADERSHIP AS CHIEF EXECUTIVE OFFICER
    * TUESDAY MORNING CORP - TUESDAY MORNING'S MANAGEMENT TEAM
REMAINS
IN PLACE UNDER HAND'S LEADERSHIP AS CHIEF EXECUTIVE OFFICER
    * TUESDAY MORNING CORP - TRANSACTION INCLUDES PURCHASE BY
SPV OF
$24.5 MILLION OF JUNIOR SECURED EXCHANGEABLE NOTES DUE DECEMBER
31, 2027

Source text for Eikon:  ID:nGNX1SNC9v 
Further company coverage:  TUEM.O 

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