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Potential CVR buyback of all outstanding shares of

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fredman   Monday, 02/09/15 08:40:21 AM
Re: Enterprising Investor post# 51
Post # of 85 
Potential CVR buyback of all outstanding shares of WMGIZ from Wright Medical prior to merger with Tornier, imo. 28.1 million contingent value rights (CVRs) were issued, and at $6.50 is approximately $190 million.

02/09/15 Wright Medical Group, Inc. Announces Proposed Private Placement of Cash Convertible Senior Notes

"The Company estimates that the net proceeds of the offering will be approximately $389 million (or $447 million if the initial purchasers' option to purchase additional notes is exercised in full), after deducting the initial purchasers' discounts and commissions and estimated offering expenses. The Company expects to use a portion of the net proceeds from the offering to pay the cost of the cash convertible note hedge transactions (after such cost is partially offset by the proceeds to the Company from the sale of the warrants). The Company intends to use the remaining net proceeds from the offering for general corporate purposes, including possible acquisitions and to repay up to approximately $250 million aggregate principal amount of the Company's outstanding indebtedness in privately negotiated transactions."

Source: http://www.marketwatch.com/story/wright-medical-group-inc-announces-proposed-private-placement-of-cash-convertible-senior-notes-2015-02-09



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