News
Navarre Acquires Funimation
posted on by Christopher Macdonald
Deal Concludes
A press release has been sent out stting that Navarre has completed its acquisition of Funimation.
The deal was concluded for $100,400,000 in cash and 1,827,486 shares of unregistered Navarre common stock. At today's closing value ($8.35, down .03 from yesterday), the Navarre stock is worth $15,259,508, bringing the immediate value of the acquisition to $115,659,508. Additionally the sellers of Funimation could receive up to $17,000,000 in cash to be paid over five-years if FUNimation achieves certain agreed-upon financial targets during that period.
This brings the total value of the deal down from $127 million to $150 million that was initially stated in Navarre's January 10th press release.
Navarre financed the purchase using a $165 million line of credit secured with GE Commercial Finance.
The deal was concluded for $100,400,000 in cash and 1,827,486 shares of unregistered Navarre common stock. At today's closing value ($8.35, down .03 from yesterday), the Navarre stock is worth $15,259,508, bringing the immediate value of the acquisition to $115,659,508. Additionally the sellers of Funimation could receive up to $17,000,000 in cash to be paid over five-years if FUNimation achieves certain agreed-upon financial targets during that period.
This brings the total value of the deal down from $127 million to $150 million that was initially stated in Navarre's January 10th press release.
Navarre financed the purchase using a $165 million line of credit secured with GE Commercial Finance.
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