Edition:
United States

Comscore Announces Financing Arrangements, Provides Business And Financial Update


Tuesday, 16 Jan 2018 08:48am EST 

Jan 16 (Reuters) - Comscore Inc ::COMSCORE ANNOUNCES FINANCING ARRANGEMENTS AND PROVIDES BUSINESS AND FINANCIAL UPDATE.COMSCORE INC - ‍ISSUES $150 MILLION IN CONVERTIBLE NOTES TO STARBOARD IN EXCHANGE FOR $85 MILLION IN CASH AND $65 MILLION IN OUTSTANDING COMSCORE COMMON STOCK​.COMSCORE INC - REACHES AGREEMENTS WITH STARBOARD VALUE.COMSCORE - INTENDS TO CONDUCT CONVERTIBLE NOTES RIGHTS OFFERING OF UP TO $150 MILLION TO ALL STOCKHOLDERS WITH $100 MILLION BACKSTOPPED BY STARBOARD.COMSCORE INC - ‍GRANTS STARBOARD AN OPTION TO ACQUIRE UP TO AN ADDITIONAL $50 MILLION IN CONVERTIBLE NOTES​.COMSCORE - ‍FINANCING PROVIDES CO A MINIMUM OF $135 MILLION IN CASH FROM STARBOARD NOTES AND OTHER STARBOARD COMMITMENTS​.COMSCORE INC - ‍MAXIMUM VALUE OF COMSCORE COMMON STOCK STARBOARD CAN EXCHANGE IS $115 MILLION​.COMSCORE - WILL RECOGNIZE CHARGE TO EARNINGS OF BETWEEN $10 MILLION - $12 MILLION IN Q4 RELATED TO REDUCTIONS IN WORKFORCE.COMSCORE INC - ‍AUDIT OF FINANCIAL STATEMENTS FOR 2015, 2016 AND 2017 IS NOW EXPECTED TO BE COMPLETED BY END OF MARCH 2018​.