Issuer:
|
MoneyGram International, Inc. | |
Symbol:
|
MGI (NYSE) | |
Size:
|
$150,312,500 | |
Shares offered:
|
9,250,000 shares of common stock | |
Underwriters option:
|
1,387,500 shares of common stock | |
Price to public:
|
$16.25 per share | |
Trade date:
|
November 17, 2011 | |
Closing date:
|
November 23, 2011 | |
CUSIP No.:
|
60935Y208 | |
Use of proceeds:
|
All of the securities covered by the Preliminary Prospectus are being sold by the selling stockholders identified in the Preliminary Prospectus. The Company will not receive any of the proceeds from the sale of shares in this offering. | |
Joint Book-Running Managers: |
Morgan Stanley & Co. LLC Goldman, Sachs & Co. Merrill Lynch, Pierce, Fenner & Smith Incorporated J.P. Morgan Securities LLC Wells Fargo Securities, LLC |
|
Co-Managers:
|
William Blair & Company L.L.C. Morgan Keegan & Company, Inc. Piper Jaffray & Co. |
| on an actual basis (after giving effect to the Reverse Stock Split); and | ||
| on an as adjusted basis to reflect the completion of this offering (assuming no exercise of the underwriters option to purchase 1,387,500 additional shares from the selling stockholders) and the Note Redemption, which will occur on the closing date of this offering or shortly thereafter. |
As of September 30, 2011 | ||||||||
Actual | As Adjusted | |||||||
(In thousands) | ||||||||
Cash and cash equivalents (substantially restricted) |
$ | 2,583,475 | $ | 2,514,906 | (1) | |||
Other Assets |
$ | 156,029 | $ | 148,925 | (1) | |||
Debt |
||||||||
Senior secured credit facility, net of unamortized
discount,
due 2017 |
$ | 339,199 | $ | 476,049 | ||||
Senior revolving credit facility due 2016 |
| | ||||||
Second lien notes due 2018 |
500,000 | 325,000 | ||||||
Total debt |
$ | 839,199 | $ | 801,049 | ||||
Stockholders Deficit |
||||||||
Participating Convertible Preferred Stock Series D,
$0.01 par value, 200,000 shares authorized
(actual and
as adjusted), 173,189 shares issued (actual) and
113,189 shares issued (as adjusted) |
446,925 | 292,092 | ||||||
Common Stock, $0.01 par value, 162,500,000 shares
authorized (actual and as adjusted), 50,394,663
shares
issued (actual) and 57,894,663 shares issued (as
adjusted) |
543 | 618 | ||||||
Additional paid-in capital |
818,630 | 973,389 | ||||||
Retained loss |
(1,219,666 | ) | (1,257,190 | )(1) | ||||
Accumulated and other comprehensive loss |
(27,257 | ) | (27,257 | ) | ||||
Treasury stock, 4,429,167 shares (actual and as adjusted) |
(127,335 | ) | (127,335 | ) | ||||
Total stockholders deficit |
(108,160 | ) | (145,684 | ) | ||||
Total Capitalization |
$ | 731,039 | $ | 655,365 | ||||
(1) | Assumes the Note Redemption occurs on November 23, 2011 and is financed with $140.0 million in borrowings under Worldwides incremental term loan facility under our existing senior secured credit facility, net of a 2.25% original issuance discount, and available cash. We may increase such borrowings, all of which will be used to finance the Note Redemption, to $150.0 million by the date of the Note Redemption. |