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Platform Specialty Products Corporation

The following excerpt is from the company's SEC filing.

Announces Launch of Its Senior Notes Offering

WEST PALM BEACH, November 2, 2015 Platform Specialty Products Corporation (NYSE:PAH) (Platform) announced today that PSPC Escrow II Corp., a wholly-owned subsidiary of Platform (the Escrow Issuer), intends to offer $400 million aggregate principal amount of senior notes due 2021 denominated in U.S. dollars (the Notes) in a private offering, subject to market and other customary conditions. The Notes are being offered solely to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and to non-U.S. persons in accordance with Regulation S under the Securities Act.

If the offering closes prior to the consummation of Platforms previously-announced recommended offer to acquire all the issued and to be issued shares of Alent plc (the Alent Acquisition), the net proceeds from the offering (plus an additional amount of funds from Platform necessary to provide for the special mandatory redemption price of the Notes) will be deposited into an escrow account until the date on which certain escrow conditions are satisfied, including the closing of the Alent Acquisition. The Alent Acquisition is expected to be consummated on December 1, 2015, subject to closing conditions customary for a transaction of this type.

Platform intends to use the net proceeds from the offering to finance a portion of the acquisition consideration and related fees and expenses of the Alent Acquisition and pre-pay outstanding debt of Alent plc under its existing credit facility. However, if the closing of the Alent Acquisition does not occur on or before July 13, 2016, the indenture governing the Notes will require that such amounts deposited in the escrow account be used to redeem all of the Notes then outstanding at the special mandatory redemption price. Upon consummation of the Alent Acquisition, Platform will assume the obligations of the Escrow Issuer under the Notes and the...


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