By Stephanie N. Rotondo
Portland, Ore., Dec. 12 - NCO Group Inc. said it accepted subscriptions from some existing shareholders to purchase over 40,000 shares of series B-1 19% PIK preferred stock and over 1,000 shares of series B-2 19% preferred stock.
In total, 42,115.14 shares of the preferred stock were purchased for $237.50 per share, or $10 million total proceeds, according to an 8-K filing with the Securities and Exchange Commission. The deal was completed on Dec. 9.
Funds from the transaction will be used for general corporate purposes. No underwriter was used.
Furthermore, NCO said it amended its certificate of incorporation to allow for the increase in preferred shares to 7,500,000 from 6,500,000. Also, 800,000 shares were designated as the series B-1 stock, while 200,000 were given the series B-2 moniker.
NCO is a Horsham, Pa.-based provider of accounts receivable management and outsourcing options.
| Issuer: | NCO Group Inc.
|
| Security description: | Preferred stock
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| Amount: | $10 million
|
| Price per share: | $237.50
|
| Par value: | $0.01 per share
|
| Distribution: | Private placement
|
|
|
| Series B-1
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| Security description: | 19% PIK preferred stock
|
| Shares purchased: | 40,745.78
|
|
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| Series B-2
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| Security description: | 19% preferred stock
|
| Shares purchased: | 1,369.36
|
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