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LECG Corp. Slides 36.5%; Gets Debt Waiver, Buyout Interest That Values Co. at Up to $1 Per Share
LECG Corp Slides 36 5 Gets Debt Waiver Buyout Interest That Values Co at Up to 1 Per Share | BahVideo.com
Watch LECG Corp. Slides 36.5%; Gets Debt Waiver,  Buyout Interest That Values Co. at Up to $1 Per Share

LECG Corp. Slides 36.5%; Gets Debt Waiver, Buyout Interest That Values Co. at Up to $1 Per Share

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LECG Corporation (XPRT) is down sharply after it says it obtained a limited duration waiver from its current lenders relating to XPRT’s compliance with certain financial covenants under its term credit facility. The term credit facility matures on March 31 and approximately $27.8 million is outstanding under the facility. XPRT says it does not have sufficient resources to repay amounts outstanding under the facility at this time. XPRT also said it received an indication of interest to acquire the firm. The non-binding indication of interest sets the enterprise value of XPRT at $104 million, on a cash free, debt free basis. This implies a value of up to $1 for each outstanding share of common stock after repayment of the company's existing debt and redemption of the company's Series A Convertible Redeemable Preferred Stock. LECG Corporation is down over 36% to $1.08 on the news.
Channel: YouTube
Video Length: 65
Date Found: February 09, 2011
Category: News
Date Produced: February 08, 2011
View Count: 0
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