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Proceeds
Estimate
net proceeds to company from this offering will be
approximately US$129.3
million, after deducting estimated
underwriting discounts and commissions and estimated
offering expenses payable by company. A $1.00 increase
(decrease) in the assumed initial public offering price
of US$17.50 per share would increase (decrease) the
net proceeds from this offering by approximately US$7.7
million,
assuming that the number of shares offered by company
remains the same.
A
change in the initial offering price would impact the
number of shares of common stock outstanding
because such a change would result in different exchange
ratios pursuant to the Recapitalization
Transactions and would impact the amount of the
Redemptions, thereby altering the shares
outstanding.
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Use
of proceeds
-
To
redeem approximately $137.9 million
of New Class A Units held by the existing
unitholders of D&P
Acquisitions,
-
To
repay $42.9 million outstanding borrowings under
credit agreement. At June 30, 2007, company had
outstanding borrowings
of $79.0 million under the term loan facility
(before debt discount) bearing interest at a rate
of LIBOR plus a margin of 2.75%. Proceeds from these
borrowings have been used to acquire the CVC
and Chanin businesses and for working capital
purposes.
Pending
such uses, company may invest the net proceeds from this
offering in short-term investments.
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