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BBOX

Black Box

$1.64

0.09 (5.81%)

12:57
08/18/18
08/18
12:57
08/18/18
12:57

Black Box announces sale agreement of Federal Government IT Services Business

Black Box announced that it has entered into a definitive agreement to sell its Federal Government IT Services Business to a private equity firm for a cash purchase price of $75M. The buyer has agreed to purchase 100% of the equity interests of the Federal Business on a debt-free, cash-free basis. Consummation of the transaction is subject to customary closing conditions and the parties anticipate a closing on or before August 31, 2018. As previously disclosed, the Second Amendment dated June 29, 2018 to Black Box's Credit Agreement dated May 9, 2016, as amended, requires that Black Box satisfy certain milestones related to the sale of the Federal Business, including the execution of this definitive agreement and the consummation of the sale by August 31, 2018. The net proceeds of the sale of the Federal Business, after fees, costs, expenses and accrued interest under the Credit Facility, will be used to pay down all outstanding indebtedness under the new $10M LIFO senior revolving credit facility, which will then remain available for future borrowings. The remainder of the net proceeds will be used to pay down other indebtedness under the Credit Agreement. While the entry into a definitive agreement for the sale of the Federal Business is a significant milestone for Black Box, the company also remains focused on exploring all other strategic alternatives with the assistance of Raymond James and Jones Day to address its liquidity needs including, among others, refinancing, restructuring and the sale of some or all of the remaining businesses of the company.

TODAY'S FREE FLY STORIES

$NYE

NYSE Market Internals

$0.00

(0.00%)

11:16
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Technical Analysis
NYSE market internals summary »

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BBY

Best Buy

$80.08

-0.56 (-0.69%)

11:15
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Options
Best Buy put volume heavy and directionally bearish »

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11:15
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General news
Breaking General news story  »

6-Month Bill Auction to…

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General news
Breaking General news story  »

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RTN

Raytheon

$202.18

-1.315 (-0.65%)

11:12
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Hot Stocks
Raytheon to expand cybersecurity customer base in the Middle East »

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CMCSA

Comcast

$35.07

-2.84 (-7.49%)

, CMCSK

Comcast

$0.00

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11:11
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OnTheFly
Fly Intel: Today's top analyst calls on Wall Street »

Check out today's top…

CMCSA

Comcast

$35.07

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Comcast

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Sky

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AVP

Avon Products

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Caesars

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BIO

Bio-Rad

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9.56 (3.20%)

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Nutanix

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MSFT

Microsoft

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VMW

VMware

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Deputy AG Rosenstein 'summoned to the White House,' MSNBC tweets »

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MSFT

Microsoft

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Adobe

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Microsoft, Adobe, SAP announce Open Data Initiative »

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MSFT

Microsoft

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ADBE

Adobe

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SAP

SAP

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FCX

Freeport McMoRan

$14.38

-0.22 (-1.51%)

11:05
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Options
Freeport McMoRan call volume above normal and directionally bullish »

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General news
4-Week Bill Announcement Offering Amount data reported »

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MCD

McDonald's

$163.93

-0.23 (-0.14%)

11:02
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Hot Stocks
McDonald's International Lead Markets & Chief Restaurant Officer Goare to retire »

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SPX

S&P 500

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SPDR S&P 500 ETF Trust

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11:01
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Periodicals
White House accepts Rod Rosenstein's resignation, Bloomberg reports »

Following an Axios report…

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General news
FX Action: USD-JPY »

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NTR

Nutrien

$57.09

-0.15 (-0.26%)

10:58
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Nutrien announces Jochen Tilk will step down as Executive Chair »

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NTNX

Nutanix

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-3.55 (-7.63%)

, MSFT

Microsoft

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10:56
09/24/18
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Downgrade
Nutanix, Microsoft, VMware rating change  »

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Nutanix

$43.00

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MSFT

Microsoft

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VMW

VMware

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1.86 (1.22%)

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IONS

Ionis Pharmaceuticals

$50.45

1.34 (2.73%)

, ALNY

Alnylam

$92.42

-2.17 (-2.29%)

10:56
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Recommendations
Ionis Pharmaceuticals, Alnylam analyst commentary  »

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IONS

Ionis Pharmaceuticals

$50.45

1.34 (2.73%)

ALNY

Alnylam

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Treasury Action: yields reverted lower »

Treasury Action: yields…

TRU

TransUnion

$74.19

-0.11 (-0.15%)

10:50
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10:50
Options
Notable call write in TransUnion »

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10:50
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General news
U.S. Dallas Fed manufacturing index dropped 2.8 points to 28.1 in September »

U.S. Dallas Fed…

SPX

S&P 500

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, SPY

SPDR S&P 500 ETF Trust

$290.74

-1.29 (-0.44%)

10:46
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Technical Analysis
Technical Take: SPDR S&P 500 ETF nears session lows »

The SPDR S&P 500 ETF…

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S&P 500

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SPDR S&P 500 ETF Trust

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P

Pandora

$9.43

0.35 (3.85%)

, SIRI

Sirius XM

$6.55

-0.425 (-6.10%)

10:45
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Downgrade
Pandora, Sirius XM rating change  »

Pandora downgraded to…

P

Pandora

$9.43

0.35 (3.85%)

SIRI

Sirius XM

$6.55

-0.425 (-6.10%)

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10:45
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General news
Breaking General news story  »

4-Week Bill Announcement…

NBIX

Neurocrine

$121.55

1.7 (1.42%)

10:45
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10:45
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10:45
Conference/Events
Neurocrine has a conference call hosted by JPMorgan »

JPMorgan Analyst Rama…

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SPX

S&P 500

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, SPY

SPDR S&P 500 ETF Trust

$291.02

-1.01 (-0.35%)

10:40
09/24/18
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Periodicals
Deputy AG Rod Rosenstein verbally resigns to John Kelly, Axios reports »

Deputy Attorney General…

SPX

S&P 500

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SPDR S&P 500 ETF Trust

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CLF

Cleveland-Cliffs

$12.47

0.31 (2.55%)

10:40
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Options
Cleveland Cliffs calls active as shares move to 52-week highs »

Cleveland Cliffs calls…

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