Nearly all Merix holders convert debentures to 1.4 million Viasystems shares, cash with merger

By Jennifer Chiou

New York, Feb. 16 - Merix Corp. said that following its completed merger with Viasystems Group, Inc., holders of 98% of Merix's $70 million of convertible senior subordinated debentures due 2013 received roughly 1.4 million newly issued Viasystems shares plus a total cash payment of $35 million for their securities.

The shares make up 7% of the company's equity. According to a news release, Viasystems has about 20 million issued shares of common stock.

The merger agreement was announced on Oct. 6, at the same time as the exchange agreement.

Merix shareholders received 0.11 shares of newly issued Viasystems stock for each Merix share held under the merger agreement.

Both companies produce multi-layer, rigid printed circuit boards. Merix is located in Beaverton, Ore., and Viasystems is located in St. Louis.

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