Trade Resources Company News Lifevantage Reports That in Connection with Recently Announced Dutch Auction Tender Offer

Lifevantage Reports That in Connection with Recently Announced Dutch Auction Tender Offer

LifeVantage Corporation, a company dedicated to helping people achieve healthy living through a combination of a compelling business opportunity and scientifically validated products, today reported that in connection with its recently announced Dutch auction tender offer for common share purchases, it entered into a Financing Agreement on October 18, 2013, with a fund managed by TCW Special Situations, LLC.

The Financing Agreement provides for a senior secured credit facility in an aggregate principal amount of $67 million (the "Term Loan"), of which approximately $47 million will be funded at close and $20 million will be available post-close for general corporate purposes.

The Term Loan is a five year loan maturing on October 18, 2018 and the principal amount is repayable in consecutive quarterly installments beginning with the calendar quarter ending March 31, 2014.

Douglas C. Robinson, President and Chief Executive Officer of LifeVantage, stated, "The successful closing of our Credit Facility provides long-term financing that complements our capital structure and illustrates the strength of our operating metrics including free cash flow. This facility will fund our recently announced modified Dutch tender offer which will enable us to reduce the number of shares outstanding and we believe improve long-term shareholder value."

On September 24, 2013, LifeVantage Corporation (the "Company") filed its Tender Offer Statement in connection with the Company's offer to purchase for cash up to $40 million of shares of its common stock. D.A. Davidson & Co. is the dealer manager for the tender offer. Georgeson Inc. serves as information agent for the tender offer and Computershare serves as depository for the tender offer.


Contribute Copyright Policy
LifeVantage Announces New $67 Million Credit Facility