Liberty Tax, Inc. to Acquire Outlet Business From Sears Hometown and Outlet Stores, Inc.
SEARS HOMETOWN & OUTLET (SHOS)
US:NASDAQ Investor Relations:
searshometownstores.com
Company Research
Source: GlobeNewswire
VIRGINIA BEACH, Va. and HOFFMAN ESTATES, Ill., Aug. 27, 2019 (GLOBE NEWSWIRE) -- Liberty Tax, Inc. (“Liberty Tax”) (OTC Pink: TAXA), the parent company of Liberty Tax Service and Buddy’s Home Furnishings, and Sears Hometown and Outlet Stores, Inc. (“Sears Hometown”) (NASDAQ: SHOS) today announced that they have entered into a definitive purchase agreement (the “Purchase Agreement”) whereby Liberty Tax will acquire Sears Hometown’s Outlet business as well as its Buddy’s Home Furnishings Stores (collectively, the “Sears Outlet business”) in an all cash transaction valued at up to approximately $132.9 million. Liberty Tax intends to finance the transaction through a combination of new debt, Liberty Tax’s balance sheet cash and/or an equity contribution from an affiliate of Vintage Capital Management, LLC (“Vintage”). In connection with the execution of the purchase agreement, Liberty Tax entered into a debt commitment letter with Guggenheim Credit Services, LLC, as administrative a
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