Key Developments For Rewards Network Inc.
Rewards Network Inc. (DINE.O) (Consolidated Issue listed on NASDAQ Capital Market)
Rewards Network Inc. Declares Special Cash Dividend of $2.00 per Share
Rewards Network Inc. announced that its Board of Directors declared a special cash dividend of $2.00 per share of common stock, payable on October 22, 2009 to stockholders of record at the close of business on October 15, 2009.
Rewards Network Inc. Authorizes Stock Repurchase Plan
Rewards Network Inc. announced that it has authorized the repurchase of up to $5.0 million of the Company's common stock. The stock repurchase authorization does not have an expiration date and may be limited, suspended or terminated at any time without prior notice.
Rewards Network Inc. Announces Expiration And Results Of Optional Purchase Offer For 3.25% Convertible
Rewards Network Inc. announced that it has accepted for payment all 3.25% Convertible Subordinated Debentures (the Securities) validly surrendered and not withdrawn prior to 5:00 p.m., New York City time, on October 10, 2008, the expiration of the right of holders to surrender their Securities for purchase by the Company pursuant to the terms of the indenture for the Securities (the Optional Purchase Offer). Based on information provided by LaSalle Bank National Association, as paying agent for the Optional Purchase Offer (the Paying Agent), Securities with an aggregate principal amount of $14,588,000 were validly surrendered for purchase and not withdrawn prior to the expiration of the Optional Purchase Offer. The purchase price for the Securities pursuant to the Optional Purchase Offer was 100% of the principal amount of the Securities, plus accrued and unpaid interest and additional interest, if any, to, but not including, October 15, 2008. Accordingly, the aggregate purchase price for all the Securities accepted for purchase by the Company is $14,828,305, which the Company is funding out of its cash reserves. The Company has forwarded cash in payment of the aggregate purchase price to the Paying Agent to distribute to the holders of the Securities. After the purchase pursuant to the Optional Purchase Offer, Securities with an aggregate principal amount of $200,000 remain outstanding.
Rewards Network Inc. Amends Credit Facility To Permit Repurchase of Company's 3.25% Convertible Subordinated
Rewards Network Inc. announced that it amended its senior secured revolving credit facility (Facilitywith RBS Business Capital (RBS) on August 11, 2008 to allow up to $15 million of the Facility to be used to repurchase the Company's 3.25% Convertible Subordinated Debentures (Debentures), to increase the Facility to up to $40 million and to extend the term to August 11, 2011. Under the Facility, RBS has committed to provide up to $25 million and has agreed to seek to obtain an additional commitment of $15 million from one or more other financial institutions.
Rewards Network Inc. Announces Switch To The NASDAQ Stock Market
Rewards Network Inc. announced that its Board of Directors has approved the decision to switch the listing of its common stock from the American Stock Exchange to The NASDAQ Stock Market LLC. Effective on or about May 26, 2008, the Company will trade under the symbol NASDAQ:DINE.
