The Donerail Group and Board Nominee Terry Jimenez Issue Joint Statement Regarding the Firm’s Prior Acquisition Efforts and Financing Capabilities
Retrieved on:
Tuesday, April 12, 2022
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Since Donerails initial acquisition proposal in April 2021, we have tried to work collaboratively with the Company and its advisors at Bank of America to provide clarity regarding our acquisition financing capabilities.
Key Points:
- Since Donerails initial acquisition proposal in April 2021, we have tried to work collaboratively with the Company and its advisors at Bank of America to provide clarity regarding our acquisition financing capabilities.
- Given Donerails acquisition proposal required significant co-investment equity capital, we understood the Board of Directors (the "Board") desire for information concerning our financing capabilities and co-investment capital raising experience.
- Accordingly, the Boards representative informed Donerail that the Board no longer considered credibility of financing as a basis to object to our bid.
- As the general partner of Donerail Group, Donerail Group GP may be deemed to beneficially own the 860,816 shares of Common Stock directly beneficially owned by Donerail Master Fund.