- iMedia Brands Inc IMBI has priced the underwritten public offering of $75.0 million of 8.50% senior notes due 2026.
- The company has granted the underwriters a 30-day option to purchase up to an additional $5.0 million of Notes.
- The offering is expected to close on or about September 28, 2021.
- The Notes will pay quarterly interest beginning on December 31, 2021, at a rate of 8.50% per year, and will mature on September 30, 2026.
- iMedia Brands intends to use net proceeds to fund the closing cash purchase price for the acquisition of 1-2-3.tv Group.
- Price Action: IMBI shares closed higher by 2.48% at $5.79 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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