Key Developments: CVSL Inc (CVSL.PK)

CVSL.PK on OTC Markets Group

19 Aug 2014
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$-0.06 (-6.67%)
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Latest Key Developments (Source: Significant Developments)

CVSL Inc and Uppercase Living close transaction
Friday, 14 Mar 2014 12:00pm EDT 

CVSL Inc and Uppercase Living LLC:Closed a transaction for Uppercase Living to become part of the CVSL family of micro-enterprise companies.  Full Article

CVSL Inc announces application for listing in OTCQX U S
Tuesday, 18 Feb 2014 07:00am EST 

CVSL Inc:Says it has applied to uplist for trading on OTCQX U.S., a higher tier of the Over The Counter (OTC) markets.  Full Article

CVSL Inc sells its remaining stake in Blyth
Tuesday, 28 Jan 2014 02:53pm EST 

CVSL Inc:Says it has sold all of its remaining shares of Blyth, Inc. and no longer holds any equity position in Blyth.Last fall, CVSL indicated publicly that it had acquired a stake in Blyth. On Oct. 29, 2013, CVSL announced that it had proposed a business combination with Blyth, under which CVSL would acquire all public common shares of Blyth for a per share consideration of $16.75.  Full Article

CVSL Inc completed sale of Longaberger golf club
Monday, 30 Dec 2013 12:33pm EST 

CVSL Inc:Says completion of its sale of the Longaberger Golf Club in Nashport, OH.Says under the terms of the sale, the purchaser has the right to continue using the name "Longaberger Golf Club" for a period of time.  Full Article

Blyth Inc Rejects Unsolicited Conditional Proposal From CVSL, Inc
Friday, 15 Nov 2013 08:00am EST 

Blyth Inc announced that its Board of Directors, after careful review and consultation with its legal and financial advisors, has unanimously rejected the unsolicited conditional proposal from CVSL, Inc. to acquire Blyth. The Board of Directors cited the following as major reasons for its rejection of the offer, based on both the terms outlined in CVSL's offer letter dated October 25, 2013, and information obtained in subsequent discussions between Blyth's and CVSL's advisors: The offer was not supported by any committed debt or equity financing. The offer potentially required Blyth public shareholders to take as consideration a debt instrument for a portion of the purchase price. The offer required the management of Blyth, as well as significant shareholders of Blyth, to take as consideration stock (in CVSL or a subsidiary) for all or a portion of the purchase price for their shares of Blyth. The advisors to CVSL, in discussions with Blyth's advisors, indicated that there was no capacity to raise additional debt at CVSL. Consequently, any debt raised to finance the cash portion of the purchase price would be raised based solely on the leverage capacity of Blyth. The offer required using Blyth's cash and cash equivalents to repay Blyth's existing indebtedness and did not address the ongoing working capital needs of Blyth's domestic and international businesses.  Full Article

CVSL Inc Signs Letter Of Intent With Paperly
Friday, 1 Nov 2013 10:00am EDT 

CVSL Inc. and Paperly LLC announced that they have signed a letter of intent for Paperly to become part of CVSL's family of direct selling companies. Chicago-based Paperly is a direct selling company that allows its independent sales consultants to work with customers to design and create custom stationery through home parties, events and individual appointments.  Full Article

CVSL Inc Offers To Acquire Blyth Inc For $16.75 Per Share
Tuesday, 29 Oct 2013 11:23am EDT 

CVSL Inc announced that it has proposed a business combination with Blyth, Inc., under which CVSL would acquire all public common shares of Blyth for a per share consideration of $16.75, representing a 35% premium over the 90-day simple moving average price for the period ending October 24, 2013. The $16.75 per share price proposal represents a premium of 35% above the 90 day simple moving average ending October 24, 2013, payable in the form of $269.54 million in cash. CVSL would provide each Blyth shareholder with the ability to choose whether to receive the consideration in cash or CVSL common stock.  Full Article

CVSL Inc's Florida corporation Announces Acquisition Of Agel Enterprises Inc-Form 8-K
Tuesday, 1 Oct 2013 04:16pm EDT 

CVSL Inc reported in its Form 8-K that on September 25, 2013, Agel Enterprises, Inc., (AEI) and a wholly-owned subsidiary of CVSL Inc., a Florida corporation (CVSL), entered into an Asset Purchase Agreement to acquire substantially all the assets of Agel Enterprises, LLC, a Utah limited liability company (Agel). Pursuant to the Agreement, AEI will acquire substantially all the assets of Agel in exchange for total consideration of 7,446,600 shares of CVSL common stock, the delivery of a Purchase Money Note, dated on the closing date, in the original principal amount of $1,700,000 and the assumption of up to $1,000,000 in liabilities of Agel. The Agreement contains customary conditions to closing that must be fulfilled or waived by the parties, at which time the transactions contemplated by the Agreement will close.  Full Article

Computer Vision Systems Laboratories Corp Announces $20 Million Sale Of 4% Convertible Notes To Richmont Capital Partners V LP
Tuesday, 11 Dec 2012 05:59pm EST 

Computer Vision Systems Laboratories Corp announced the sale of $20 million of 4% convertible notes to Richmont Capital Partners V LP (RCP V). CVSL intends to use the net proceeds from the offering to execute its strategy of making acquisitions in the direct selling sector and for other purposes. CVSL's chairman, John P. Rochon, recently announced the company's intention to acquire direct selling companies in multiple categories such as home, health and wellness and beauty. The notes bear interest at 4% and are convertible into shares of CVSL common stock at $.33 per share. The initial principal balance, plus any accrued interest, would be converted into a minimum of 60 million shares of CVSL common stock. Rochon Capital Partners, Ltd., CVSL's largest shareholder, intends to surrender the approximately 60 million shares necessary, to allow CVSL to issue the shares upon conversion of the notes. The total number of shares of CVSL common stock outstanding will therefore remain unchanged upon conversion.  Full Article

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