CPI International gets $393 million debt commitment for buyout

By Sara Rosenberg

New York, Nov. 29 - CPI International Inc. has received a $393 million debt financing commitment to help fund its acquisition by Veritas Capital for $19.50 per share in cash, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Other funds for the approximately $525 million transaction will come from $220 million of equity.

Closing is subject to stockholder approval, and a number of customary regulatory and other conditions. The transaction is not subject to any financing conditions.

CPI is a Palo Alto, Calif.-based provider of microwave, radio frequency, power and control solutions for critical defense, communications, medical, scientific and other applications.

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