Stream Holdings - Global BPO

Stream Holdings Corp.
Global BPO Services Corp.
$226mm SPAC Acquisition - PE Exit

SPAC to acquire a business process outsourcing company

GBPO has agreed to pay $225.8 million, subject to certain adjustments for working capital, for 100% ownership of Stream
The purchase price will be paid by a combination of the assumption or replacement of existing debt and capital leases totaling approximately $72.0 million, cash payments of approximately $139.3 million and the issuance of approximately 1.8 million units, each consisting of a share of GBPO common stock and a warrant to purchase a share of GBPO common stock at a strike price of $6 per share, valued at $14.5 million in the transaction
The purchase price is subject to increase based on the timing of the closing
On closing of the acquisition, $7.5 million of deferred underwriting fees from the IPO due to Deutsche Bank Securities Inc. and Robert W. Baird & Company will also be paid
GBPO expects to have approximately $100 million of cash on hand after the closing
OOO.U news - stock chart

Announced 1.28.08

Developments