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Prospect News home > News index > List of issuers T > Headlines for Tenders 2011 > News item |
Southpaw extends tender offer for Eddie Bauer's 5.25% convertibles
By Angela McDaniels
Tacoma, Wash., June 30 - Southpaw Asset Management LP amended its tender offer for the 5.25% convertible senior notes due 2014 issued by EBHI Holdings, Inc. (formerly Eddie Bauer Holdings, Inc.), according to a news release.
The purchase price was increased to $60 per $1,000 principal amount, and the expiration time was extended to 5 p.m. ET on July 15 from 5 p.m. ET on June 29.
On June 1, Southpaw began an offer to purchase up to $57,397,000 principal amount of the convertibles at a price equal to $50 per $1,000 principal amount, net to the seller in cash, without interest.
As of 5 p.m. ET on June 29, holders had tendered $2,848,000 principal amount of the convertibles.
The information agent is Mellon Investor Services, LLC (866 223-8322 or 201 680-6590).
Eddie Bauer is a Bellevue, Wash.-based specialty retailer that sells outerwear, apparel and accessories. It emerged from bankruptcy as EBHI Holdings in April 2010.
Southpaw is a Greenwich, Conn.-based hedge fund manager focused on distressed and special situations.
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