Add
ESIC to Portfolio
Set Alert
Email to a
Friend
| |||
|
|
Quotes & Info
|
| ESIC > SEC Filings for ESIC > Form 8-K on 7-Jan-2009 | All Recent SEC Filings |
7-Jan-2009
Completion of Acquisition or Disposition of Assets, Other Ev
On December 31, 2008, EasyLink Services International Corporation, a Delaware corporation (the "Company"), entered into a Fourth Amendment to Securities Purchase Agreement (the "Fourth Amendment") by and among the Company and each of the purchasers identified on the signature pages thereto (the "Purchasers"), amending the Securities Purchase Agreement dated May 3, 2007, by and among the same parties, as amended to date (as so amended, the "Securities Purchase Agreement").
Pursuant to the terms of the Fourth Amendment: (1) the Company agreed to prepay
immediately an amount of $12 million on the Notes (as that term is defined in
the Securities Purchase Agreement) in consideration of an adjustment by the
Purchasers of the financial covenant regarding the Company's recurring revenue;
(2) the Company agreed to prepay an additional amount of between $30 and
$35 million on the Notes if it can secure, on terms satisfactory to the Company,
additional funds in the form of debt to fund such prepayment on or before
July 31, 2009; (3) the Purchasers agreed to waive any rights to prepayment or
repurchase penalties with respect to such prepayments; and (4) the Purchasers
agreed not to apply Section 14.4(a) of the Securities Purchase Agreement until
the Company's fiscal quarter ending July 31, 2009.
The Fourth Amendment is attached hereto as Exhibit 2.1 and incorporated herein by reference.
On January 7, 2009, the Company issued a press release announcing its entry into the Fourth Amendment to the Securities Purchase Agreement and its prepayment of $12 million on the Notes. A copy of the Company's press release is attached hereto as Exhibit 99.1.
(d) Exhibits.
2.1 Fourth Amendment to Securities Purchase Agreement, dated as of December 31, 2008, by and among EasyLink Services International Corporation and each of the Purchasers identified on the signature pages thereto.
99.1 Press Release dated January 7, 2009.
|
|