other material
confidence high
sentiment positive
materiality 0.75
Harte Hanks completes repurchase of all Series A Convertible Preferred shares from Wipro
HARTE HANKS INC
- Paid $9.926M cash (held in escrow since June 30) plus 100,000 common shares to retire all 9,926 preferred shares.
- Preferred stock was convertible into ~16% of common stock on a fully diluted basis.
- CEO Brian Linscott says transaction eliminates dilutive impact and restrictions on capital use and borrowing.
- Cash portion funded from on-hand cash and credit facility; no additional cash paid at closing beyond escrow.