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BRIEF-Dynatronics- co entered into agreement to acquire all assets of Bird & Cronin for $10.0 million in cash
September 27, 2017 / 10:32 AM / 2 months ago

BRIEF-Dynatronics- co entered into agreement to acquire all assets of Bird & Cronin for $10.0 million in cash

Sept 27 (Reuters) - Dynatronics Corp

* Dynatronics-On September 26, co entered into agreement to acquire all assets of Bird & Cronin for $10.0 million in cash - SEC filing

* Dynatronics - to fund deal with proceeds from offer , sale of equity securities in private offering

* Dynatronics Corp - to fund deal with funds provided by borrowings pursuant to amended asset-based lending facility with bank of the west

* Dynatronics Corp - under terms of agreement, co will acquire all of assets of B&C and following closing will operate business at its facility in Minnesota

* Dynatronics Corp says ‍in connection with deal, on Sept 25, co entered commitment letter to modify current credit facility dated March 31 - SEC filing

* Dynatronics-On Sept 25,co entered into commitment letter with bank of west containing terms by which bank is prepared to modify current credit facility

* Dynatronics - ‍terms of commitment letter provide credit facility to be modified by amendment

* Dynatronics corp - ‍purchase price for B&C is an amount payable in cash and securities totaling between $14.5 million and $15.5 million​

* Dynatronics - credit facility amendment to increase maximum amount of loans permitted under facility up to lesser of $11 million and a borrowing base​ Source text (bit.ly/2xFnO4w) Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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