Thermadyne Holdings Corporation Announces Pricing of and Increase in Offering of Senior Secured Notes
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ST. LOUIS, MO - November 18, 2010 - Thermadyne Holdings Corporation (NASDAQ:THMD)
today announced that Razor Merger Sub Inc. has priced a private offering of senior secured notes
due 2017 in connection with the acquisition of Thermadyne by affiliates of Irving Place Capital.
The offering was increased to $260,000,000 from the originally announced offering of
$250,000,000. The notes will be sold to investors at a price of 100% of the principal amount thereof
and will bear interest at a rate equal to 9% per annum. The offering is expected to close on
December 3, 2010. The closing of the notes offering is subject to market and other conditions
including, without limitation, the closing of the merger described below.
Razor Merger Sub Inc. was formed in connection with Thermadyne's previously announced
agreement to merge with an entity controlled by affiliates of Irving Place Capital. Thermadyne
and certain of its domestic and foreign subsidiaries will assume all of the obligations under the
notes upon consummation of the merger. The net proceeds from the offering of the notes,
together with other financing sources, will be used to consummate the merger and pay related
fees and expenses.
The notes have not been registered under the Securities Act of 1933, as amended, and, unless so
registered, may not be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements of the Securities Act and other applicable securities
laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities laws of any such
jurisdiction.
For more information, contact:
Debbie Bockius
636-728-3031
