Blyth, Inc. (NYSE:BTH) announced a private placement of 6.00% senior notes due 2017 for gross proceeds of $50,000,000 on May 7, 2013. The notes will mature on June 30, 2017. Interest on the New Notes will accrue at a rate of 6.00% per year and will be payable semiannually in arrears on May 15 and November 15 of each year, commencing on November 15, 2013. The Company is permitted to redeem the notes in whole or in part at any time on or after May 15, 2015 at the its option. On ... May 10, 2013, the company closed the first tranche with proceeds of $50,000,000. The company announced that it will receive in total $75,000,000 from the transaction. The company issued the securities pursuant to exemption provided under Regulation D. The transaction saw participation from two investors. Cowen and Company served as placement agent in the transaction. The company paid a sales commission of $1,500,000 to the agent as part of the transaction.
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Blyth, Inc. (NYSE:BTH) acquired an additional 7.6% stake in ViSalus, Inc. from Ryan Blair, Blake Mallen, Nick Sarnicola, Robert B. Goergen, Todd A. Goergen, JDF Partners LLC and other shareholders for $57.4 million on December 18, 2012. Post acquisition, Blyth holds 80.4% stake in ViSalus. Robert B. Goergen, Robert B. Goergen, Jr, and Todd A. Goergen owned 2.4%, 0.1% and 0.8%, respectively, of the membership interests of ViSalus Holdings, LLC before the completion of ... the transactions and now own 1.8%, 0.1% and 0.6%, respectively, of the outstanding capital stock of ViSalus, Inc. Out of the total purchase price, Blyth paid $5.1 million to Robert B. Goergen, $1.7 million to Todd A. Goergen and $0.2 million to Robert B. Goergen, Jr. Of the $147.5 million aggregate redemption amount of Preferred Stock that was issued by ViSalus, Inc., shares with a $13.2 million redemption amount were issued to Robert B. Goergen, shares with a $4.5 million redemption amount were issued to Todd A. Goergen (and trusts affiliated with him) and shares with a $0.5 million redemption amount were issued to Robert B. Goergen, Jr. In addition, Robert B. Goergen will receive 1.8%, Todd A. Goergen (and trusts affiliated with him) will receive 0.6% and Robert B. Goergen, Jr. will receive 0.1% of any cash dividends declared and paid by ViSalus, Inc.
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