Subsequent Event

12 Months Ended

Apr. 30, 2017

Subsequent Events

Subsequent Event

21. Subsequent Events

         The Company has evaluated subsequent events through June 30, 2017, which is the date these financial statements were issued.

         Subsequent to the end of fiscal 2017, on June 7, 2017 we entered into a second amendment to our First Lien Credit Agreement, dated April 1, 2014, among GYP Holdings III Corp., as borrower, GYP Holdings II Corp., the financial institutions from time to time party thereto, as lenders, and Credit Suisse AG, as administrative agent and collateral agent. Under the terms of the amendment, we borrowed $577,615 which will mature April 1, 2023 and will bear interest at a floating rate based on LIBOR, with a 1% floor, plus 3%. The previous rate was 3.5%. The net proceeds were used to repay the existing First Lien Term Loan outstanding balance of $477,616 and approximately $94,000 of loans under our asset based revolving credit facility.

         Also on June 7, 2017, we completed an offering of 5,750,000 shares of common stock by certain of the Company's existing stockholders, including certain affiliates of AEA Investors LP (collectively, the "Selling Stockholders"), at a public offering price of $33.00 per share, including 750,000 shares of common stock that were sold as a result of the exercice in full by the underwriters of an option to purchase additional shares that was granted by the Selling Stockholders.