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Stock impact report

The GEO Group Enters Into Private Exchange Agreements With Certain 6.50% Convertible Senior Noteholders [Yahoo! Finance]

Geo Group Inc (The) REIT (GEO) 
Last geo group inc (the) reit earnings: 4/30 06:55 am Check Earnings Report
US:NYSE Investor Relations: investors.geogroup.com
Company Research Source: Yahoo! Finance
agreements with certain holders (the "Noteholders") of GEO Corrections Holdings, Inc.'s 6.50% Exchangeable Senior Notes due 2026 (the "6.50% Exchangeable Senior Notes"). The Noteholders have agreed to exchange $177 million in aggregate principal amount of the outstanding 6.50% Exchangeable Senior Notes for a current estimated valuation of $305 million. The consideration will consist of cash and shares of GEO's common stock issued at closing. The final exchange value and number of shares of common stock to be issued by GEO to the Noteholders will be determined based upon a volume-weighted average price per share of common stock during an averaging period commencing today and lasting 20 trading days. GEO expects to fund the cash portion for the exchanges, which totals $177 million, with the net proceeds from its previously announced offering of senior secured notes due 2029 and senior unsecured notes due 2031 or, if necessary, cash on hand. The 6.50% Exchangeable Senior Notes to b Show less Read more
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