hier mal ein paar nette charts von turnaround-aktien! wer kennt weitere heftige ausbrüche? bedandwin
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sehe ich den Turnarround aber kurstechnisch noch nicht wirklich!
RF
RF
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April 12, 2006 - 9:47 AM EDT
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NAVI 4.27 -0.16
Today 5d 1m 3m 1y 5y 10y
Lane Berry Serves as Financial Adviser and Placement Agent for NaviSite Recapitalization
NaviSite Completes Recapitalization - Closes $70 Million Term Loan Facility with Warrants and $3 Million Revolving Credit Facility with Silver Point Finance
Lane, Berry & Co. International, LLC, announced today that it served as financial adviser and placement agent to NaviSite, Inc. (NASDAQ: NAVI), a leading provider of IT hosting, outsourcing and professional services for mid- to large-sized organizations, with respect to its recently announced recapitalization. Lane Berry served as placement agent for the company's $70 million term loan facility with warrants and $3 million revolving credit facility provided by Silver Point Finance.
Proceeds from the Silver Point term loan facility have been used to repay and extinguish certain bank debt, convertible promissory notes, and other short-term debt and to pay transaction fees and expenses. Proceeds from the $3 million revolving credit facility from Silver Point Finance and a $5 million credit facility provided by Atlantic Investors, NaviSite's majority stockholder, are expected to be used for general corporate and working capital purposes. Further information about the recapitalization can be found in NaviSite's press release and 8-K filing available via the company's website, www.navisite.com.
Headquartered in Andover, Mass., NaviSite provides IT hosting, outsourcing and professional services for mid- to large-sized organizations. Servicing over 900 companies across a variety of industries, NaviSite delivers cost-effective, flexible solutions that help its customers build, implement and manage their mission-critical IT systems and applications. NaviSite has 14 state-of-the-art data centers and eight major office locations across the U.S., U.K., and India.
Jeff DelPorto, Managing Director and Head of Lane Berry's Private Placement Group and lead banker for the transaction commented, "This strategic financing extinguishes maturing debt and significantly strengthens NaviSite's balance sheet. NaviSite is now well-positioned to focus on achieving longer-term strategic business objectives."
Tim Walsh, Managing Director and Head of Lane Berry's Technology Investment Banking Group, said, "Lane Berry worked closely with NaviSite in leveraging our Technology Group's focus on and knowledge of the managed IT services sector and our relationships with a broad pool of investors. This successful debt refinancing is another example of Lane Berry's expertise in crafting unique Custom Capital Solutions(TM) for growth companies. We are gratified that our trusted advisory relationship with NaviSite has resulted in the creation of significant value for its shareholders, customers and employees."
About NaviSite
NaviSite provides IT hosting, outsourcing and professional services for mid- to large-sized organizations. Leveraging a proven set of technologies and extensive subject matter expertise, we deliver cost-effective, flexible solutions that provide responsive and predictable levels of service for our clients' businesses. Over 900 companies across a variety of industries rely on NaviSite to build, implement and manage their mission-critical systems and applications. NaviSite is a trusted advisor committed to ensuring the long-term success of our customers' business applications and technology strategies. NaviSite has 14 state-of-the-art data centers and eight major office locations across the U.S., U.K. and India. For more information, please visit www.navisite.com.
About Silver Point Finance
Silver Point Finance, headquartered in Greenwich, Connecticut, is an independent provider of custom financing to large and middle market companies across all industries.
About Lane Berry
Lane, Berry & Co. International, LLC provides investment banking services to corporations, their Boards, Special Committees of Boards and shareholders on matters relating to mergers, acquisitions, divestitures, debt and equity financings, debt restructurings, recapitalizations and corporate governance issues. Lane Berry offers sophisticated, objective advice and transaction execution based upon the extensive experience of its senior investment bankers. For more information about Lane Berry's services, transactions and recruitment opportunities, visit www.laneberry.com.
close Email this News Article
Your Name
Your Email
Friend's Name
Friend's Email
Receive Copy: yes
NAVI 4.27 -0.16
Today 5d 1m 3m 1y 5y 10y
Lane Berry Serves as Financial Adviser and Placement Agent for NaviSite Recapitalization
NaviSite Completes Recapitalization - Closes $70 Million Term Loan Facility with Warrants and $3 Million Revolving Credit Facility with Silver Point Finance
Lane, Berry & Co. International, LLC, announced today that it served as financial adviser and placement agent to NaviSite, Inc. (NASDAQ: NAVI), a leading provider of IT hosting, outsourcing and professional services for mid- to large-sized organizations, with respect to its recently announced recapitalization. Lane Berry served as placement agent for the company's $70 million term loan facility with warrants and $3 million revolving credit facility provided by Silver Point Finance.
Proceeds from the Silver Point term loan facility have been used to repay and extinguish certain bank debt, convertible promissory notes, and other short-term debt and to pay transaction fees and expenses. Proceeds from the $3 million revolving credit facility from Silver Point Finance and a $5 million credit facility provided by Atlantic Investors, NaviSite's majority stockholder, are expected to be used for general corporate and working capital purposes. Further information about the recapitalization can be found in NaviSite's press release and 8-K filing available via the company's website, www.navisite.com.
Headquartered in Andover, Mass., NaviSite provides IT hosting, outsourcing and professional services for mid- to large-sized organizations. Servicing over 900 companies across a variety of industries, NaviSite delivers cost-effective, flexible solutions that help its customers build, implement and manage their mission-critical IT systems and applications. NaviSite has 14 state-of-the-art data centers and eight major office locations across the U.S., U.K., and India.
Jeff DelPorto, Managing Director and Head of Lane Berry's Private Placement Group and lead banker for the transaction commented, "This strategic financing extinguishes maturing debt and significantly strengthens NaviSite's balance sheet. NaviSite is now well-positioned to focus on achieving longer-term strategic business objectives."
Tim Walsh, Managing Director and Head of Lane Berry's Technology Investment Banking Group, said, "Lane Berry worked closely with NaviSite in leveraging our Technology Group's focus on and knowledge of the managed IT services sector and our relationships with a broad pool of investors. This successful debt refinancing is another example of Lane Berry's expertise in crafting unique Custom Capital Solutions(TM) for growth companies. We are gratified that our trusted advisory relationship with NaviSite has resulted in the creation of significant value for its shareholders, customers and employees."
About NaviSite
NaviSite provides IT hosting, outsourcing and professional services for mid- to large-sized organizations. Leveraging a proven set of technologies and extensive subject matter expertise, we deliver cost-effective, flexible solutions that provide responsive and predictable levels of service for our clients' businesses. Over 900 companies across a variety of industries rely on NaviSite to build, implement and manage their mission-critical systems and applications. NaviSite is a trusted advisor committed to ensuring the long-term success of our customers' business applications and technology strategies. NaviSite has 14 state-of-the-art data centers and eight major office locations across the U.S., U.K. and India. For more information, please visit www.navisite.com.
About Silver Point Finance
Silver Point Finance, headquartered in Greenwich, Connecticut, is an independent provider of custom financing to large and middle market companies across all industries.
About Lane Berry
Lane, Berry & Co. International, LLC provides investment banking services to corporations, their Boards, Special Committees of Boards and shareholders on matters relating to mergers, acquisitions, divestitures, debt and equity financings, debt restructurings, recapitalizations and corporate governance issues. Lane Berry offers sophisticated, objective advice and transaction execution based upon the extensive experience of its senior investment bankers. For more information about Lane Berry's services, transactions and recruitment opportunities, visit www.laneberry.com.
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