K2 Inc announces cash tender offer & related consent solicitation
19 Jul '07
3 min read
The "Total Consideration" to be paid for each Note validly tendered and not validly withdrawn at or prior to the Consent Date, subject to the terms and conditions set forth in the Offer to Purchase, will be paid in cash and calculated using the yield of the 3.625% U.S. Treasury Note due July 15, 2009 (the "Reference Security") as displayed on the Bloomberg Government Pricing Monitor Page BBT5.
The Total Consideration per $1,000 principal amount of Notes will be calculated as set forth in the Offer to Purchase and determined in accordance with standard market practice, based on the bid-side price of the Reference Security on the Price Determination Date (as defined below) plus a fixed spread of 50 basis points, minus the accrued and unpaid interest from the most recent interest payment date for the Notes to, but not including, the scheduled initial payment date.
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