Ambassadors International, Inc. (NASDAQ:AMIE) Is the Top Gainer on NASDAQ
Ambassadors International, Inc. (NASDAQ:AMIE) announced a restructuring plan to reduce its outstanding debt by up to $70.5 million.
(EMAILWIRE.COM, September 11, 2009 ) New York, NY - PennyStockPickAlert is pleased to alert investors of stocks on the move.
Ambassadors International, Inc. (NASDAQ:AMIE) is one of the top percentage gainers in the early morning trade. The stock zoomed to $1.17 with 44.07% gain and is trading with a huge volume of 190k shares. The stock has also gained 205.61% in the last six months. Today, September 11, 2009 the company announced a restructuring plan to reduce its outstanding debt by up to $70.5 million. The restructuring plan involves:
-- A planned exchange offer for up to all of the Company's $97.0 million of outstanding 3.75% convertible senior notes due 2027 ("Convert Notes").
-- Assuming 100% of the holders of the Convert Notes accept the offer and elect to exchange their Convert Notes, the proposed exchange consideration to be offered will be comprised of:
-- $26.5 million aggregate principal amount of newly issued 10% senior secured notes due 2012 ("New Notes") on which interest will be paid in kind (or in cash at the Company's election); and
-- approximately 22.3 million shares of newly issued common stock, which will represent approximately 66.67% of the Company's outstanding common stock, immediately following the exchange offer.
-- Holders of approximately 59.5% of the aggregate principal amount of the Convert Notes have entered into separate exchange offer commitment and support agreements with the Company pursuant to which the definitive terms of the exchange offer will be agreed and such holders have agreed to exchange their Convert Notes for the newly issued New Notes and shares of common stock in the exchange offer.
Ambassadors International, Inc. is a cruise, marine, and travel and events company. The Company’s cruise operations include United States-flagged cruise ships that sail along the inland rivers and coastal waterways of North America and international-flagged ships that sail to destinations in the Caribbean, Europe, the Americas and the Greek Isles.
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Ambassadors International, Inc. (NASDAQ:AMIE) is one of the top percentage gainers in the early morning trade. The stock zoomed to $1.17 with 44.07% gain and is trading with a huge volume of 190k shares. The stock has also gained 205.61% in the last six months. Today, September 11, 2009 the company announced a restructuring plan to reduce its outstanding debt by up to $70.5 million. The restructuring plan involves:
-- A planned exchange offer for up to all of the Company's $97.0 million of outstanding 3.75% convertible senior notes due 2027 ("Convert Notes").
-- Assuming 100% of the holders of the Convert Notes accept the offer and elect to exchange their Convert Notes, the proposed exchange consideration to be offered will be comprised of:
-- $26.5 million aggregate principal amount of newly issued 10% senior secured notes due 2012 ("New Notes") on which interest will be paid in kind (or in cash at the Company's election); and
-- approximately 22.3 million shares of newly issued common stock, which will represent approximately 66.67% of the Company's outstanding common stock, immediately following the exchange offer.
-- Holders of approximately 59.5% of the aggregate principal amount of the Convert Notes have entered into separate exchange offer commitment and support agreements with the Company pursuant to which the definitive terms of the exchange offer will be agreed and such holders have agreed to exchange their Convert Notes for the newly issued New Notes and shares of common stock in the exchange offer.
Ambassadors International, Inc. is a cruise, marine, and travel and events company. The Company’s cruise operations include United States-flagged cruise ships that sail along the inland rivers and coastal waterways of North America and international-flagged ships that sail to destinations in the Caribbean, Europe, the Americas and the Greek Isles.
Penny Stock Pick Alert alerts its members on stocks that could generate higher than average returns. These include stocks with huge volume, penny stocks that are moving to the upside quickly, hot penny stocks with buy signals and companies with news. Our penny stock newsletter is well known for producing incredible results in a short amount of time and our members have made outstanding profits of over 100%. We encourage investors to join our FREE e-mail alerts by visiting Penny Stock Pick Alert
ABOUT Penny Stock Pick Alert
Investors who are interested in hot stocks on the move and making money in the stock market can receive FREE Alerts by visiting Penny Stock Pick Alert PennyStockPickAlert.com is a leading stock web site that provides free stock alerts on stocks that are poised to make big gains. PennyStockPickAlert.com also tracks small cap penny stocks that could be on the brink of a massive breakout. To feature a company on our web site please contact us at info@PennyStockPickAlert.com
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PennyStockPickAlert.com
Editorial Staff
Tel: 214-556-6798
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
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