Coinmach (AMEX:DRY)
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From Jan 2020 to Jan 2025
Coinmach Service Corp. (AMEX: DRY) (the "Company")
hereby announces the expiration, as of 9:00 A.M. EST today (the
"Expiration Time"), of its cash tender offer to purchase its
outstanding 11% Senior Secured Notes due 2024 (the "Notes") and its
acceptance for payment of the Notes validly tendered. As of the
Expiration Time, approximately $48.2 million of Notes, or
approximately 35.3% of outstanding Notes, had been tendered. The
Company intends to pay for such Notes on or about February 8, 2006.
Holders who validly tendered their Notes on or prior to 9:00 A.M.
EST on January 25, 2006 will receive $6.754 per $6.14 principal amount
of the Notes, and Holders who tendered thereafter but on or prior to
the Expiration Time will receive $6.6926 per $6.14 principal amount of
the Notes. In addition, all holders of Notes who tendered in the
tender offer will receive accrued and unpaid interest up to but not
including the payment date.
As of the Expiration Time, 13,487,611 income deposit securities of
the Company were outstanding.
Jefferies & Company, Inc. acted as the exclusive dealer manager
and consent solicitation agent for the Tender Offer.
This press release is for informational purposes only and is not
an offer to purchase or a solicitation of an acceptance of an offer to
purchase with respect to any Notes.
About Coinmach Service Corp.
Coinmach Service Corp., through its operating subsidiaries, is a
leading supplier of outsourced laundry equipment services for
multi-family housing properties in North America. The Company's core
business involves leasing laundry rooms from building owners and
property management companies, installing and servicing laundry
equipment and collecting revenues generated from laundry machines.
This press release may contain forward-looking statements that are
subject to certain risks, uncertainties and assumptions, including the
ability to satisfy the conditions to consummate the tender offer.
Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary
materially from those anticipated, estimated, or projected. These
risks are described in the Company's filings with the Securities and
Exchange Commission (the "SEC") over the last 12 months, copies of
which are available from the SEC or may be obtained from the Company.