Dye & Durham offer expires with no 3.75% convertibles purchased

By Angela McDaniels

Tacoma, Wash., Sept. 14 – Dye & Durham Ltd. will not purchase any 3.75% convertible senior debentures due March 1, 2026 under its substantial issuer bid, according to a company news release.

The offer expired at 5 p.m. ET on Sept. 14 and will not be extended.

The company had offered to purchase up to C$52 million principal amount of the convertibles for cancelation.

As previously reported, the company announced plans for a modified Dutch auction on July 24.

The company planned to offer C$500 to C$650 per C$1,000 principal amount and said the aggregate purchase price would not exceed C$26 million.

Canaccord Genuity Inc. was to be the dealer manager.

Dye & Durham is a provider of cloud-based software and technology solutions for legal and business professionals. The company is based in Vancouver, B.C.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.