Systems Software Associates (SSA) has engaged a new investment bank to undertake two new financing transactions that will replace formerly proposed ones.
The aim is to pay off debt and provide the applications supplier with working capital "on a basis measurably less dilutive to existing shareholders than the prior proposed transactions". The first transaction, worth $10 million, is expected to close next week, with a new public transction due to follow later. This comprises a $100 million registered, underwritten offering of subordinated convertible notes, due in the Year 2000, with a warrant component. SSA will file an amendment covering the offering with the Securities and Exchange Commission next week and expects it to be priced by the middle of September.
New ice grows faster but is also more vulnerable to weather and wind
With a crackdown on cheats is coming in November, PUBG rushes to fix matchmaking problems introduced in Update #22
New material uses carbon dioxide from the air to repair and reinforce itself
Apparent presence of scandium, vanadium and yttrium less than three light years from black hole 'an optical illusion'