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Subsequent Events
9 Months Ended
Sep. 30, 2015
Subsequent Events [Abstract]  
Subsequent Events
SUBSEQUENT EVENTS
First Closing of OMG Acquisition
On October 28, 2015, the Company completed the acquisition of the OMG Businesses, other than their Malaysian subsidiary, pursuant to the terms and conditions set forth in the merger agreement with OMG and Apollo. This transaction is the first closing of the Company's two-stage acquisition of the OMG Businesses for a total purchase price of approximately $367 million, subject to purchase price adjustments. The Company expects to complete its acquisition of the Malaysian subsidiary during the first quarter of 2016, subject to customary closing conditions, including the absence of a material adverse effect with respect to the Malaysian subsidiary.
Amendment to Series B Convertible Preferred Stock
On October 27, 2015, we entered into an amendment to the Arysta share purchase agreement, dated as of October 20, 2014, as amended, with Nalozo S.à.r.l. and Nalozo L.P. (as holders of at least a majority of shares of Series B Convertible Preferred Stock) to extend the maturity date of the Series B Convertible Preferred Stock from October 20, 2016 to April 20, 2017. To the extent that Nalozo S.à.r.l. and Nalozo L.P. have not converted their shares of Series B Convertible Preferred Stock into shares of our common stock by the extended maturity date, such shares of Series B Convertible Preferred Stock will be redeemed by Platform. The redemption price must be paid in shares of Platform’s common stock (valued at $27.14 per share) in the event of redemption at the extended maturity date. However, Platform may not issue more than 22,107,590 shares of its common stock in connection with a redemption at the extended maturity date. To the extent that the aggregate value of such 22,107,590 shares of Platform common stock is less than $600 million (based on a 10-day volume weighted average price), then any shortfall would be payable in cash by Platform, subject to certain adjustments.
In addition, we have agreed to (i) release certain resale restrictions on the Series B Convertible Preferred Stock, subject to a right of first offer in favor of Platform and (ii) pay Nalozo S.à.r.l. and Nalozo L.P. an aggregate cash dividend of $4.0 million per month from the original maturity date (October 20, 2016) to the extended maturity date (April 20, 2017, or such earlier date after October 20, 2016 that the then outstanding shares of Series B Convertible Preferred Stock are redeemed by Platform).
Proposed Alent Acquisition Financing
Syndication Process
On October 28, 2015, we commenced the syndication process for (i) incremental term loans comprised of (A) U.S. dollar denominated term loans in an aggregate principal amount of approximately $1.05 billion and (B) Euro denominated term loans in an aggregate principal amount of approximately €300 million ($330 million, based on the EURO/USD exchange rate of 1.09 on October 28, 2015), in each case, to be incurred as a new tranche of term loans under the Amended and Restated Credit Agreement, and (ii) additional revolving credit borrowings under the Amended and Restated Credit Agreement.
There can be no assurance that we will be successful in our marketing efforts, or that we will be able to enter into the related incremental term loans or amendments to the Amended and Restated Credit Agreement either in the time frame currently anticipated, or on terms and with rates that are favorable to us, or at all.
November Notes Offering
In connection with the Alent Acquisition, on November 10, 2015, Platform completed the November Notes Offering of $500 million aggregate principal amount of senior notes due 2021. These notes are governed by an indenture dated November 10, 2015 and bear interest at a rate of 10.375% per year. The notes will mature on May 1, 2021, unless earlier redeemed. Interest is payable in cash, semi-annually in arrears on May 1 and November 1 of each year, commencing on May 1, 2016. Platform will make each interest payment to the holders of record to be determined on the immediately preceding May 1 and November 1.
Concurrently with the closing of the offering, the gross proceeds from the offering (plus an additional amount from Platform necessary to provide for the special mandatory redemption price of the notes) have been deposited into an escrow account until the date on which certain escrow conditions are satisfied, including the consummation of the Alent Acquisition.
The notes and the guarantees, respectively, are Platform’s and the guarantors' senior unsecured obligations and are (i) effectively subordinated to any of Platform’s and the guarantors' existing and future secured indebtedness, including existing and future secured indebtedness under the Amended and Restated Credit Agreement, to the extent of the value of the collateral securing such indebtedness; (ii) pari passu in right of payment with all of Platform's and the guarantors existing and future senior unsecured indebtedness; (iii) senior in right of payment to all of Platform's and the guarantors' existing and future subordinated indebtedness; and (iv) structurally subordinated to all of the existing and future liabilities, including trade payables, of each of Platform’s non-guarantor subsidiaries.  
Chief Executive Officer's Impending Retirement
On October 23, 2015, our Vice Chairman of the Board, Chief Executive Officer and President, announced his intention to retire effective on the earlier to occur of (i) the date on which Platform hires a successor to his current position as Chief Executive Officer of Platform, (ii) a date that Platform elects at its sole discretion and (iii) March 31, 2016.
Upon his departure, our Chief Executive Officer will be provided with all of the rights and benefits he would be entitled to receive under his existing severance agreements (all of which have previously been filed with the SEC), including (i) the Severance Letter Agreement, dated May 23, 2011, and (ii) the Letter Agreement, dated October 29, 2013, in each case, as if the separation of his employment had been due to the termination by Platform without Cause (as defined in the Severance Letter).
Foreign Currency Hedges
On November 5, 2015, Platform executed a series of foreign currency call and put options related to exchanging U.S. dollars (USD) for Great British Pounds (Sterling) (GBP) to further hedge the cash purchase price of Alent.  The combination of the options synthetically creates a forward with a collar price of 1.56 and 1.52 USD per £1.00 for 530 million GBP.