Ziff Davis, the trouble trade media firm which has been on the block for a while without much success, has raised $20 million in debt financing, according to a document filed with SEC today.
The company has sold senior secured notes valued at that amount….it intends to use the net proceeds of the sale of the Notes for “general corporate purposes, including payment of interest obligations on its outstanding debt securities”.
The filing says that this new agreement restricts the company’s ability to merge or consolidate, though I am not sure how the exceptions (mentioned in the filing) work. Does it mean the company is officially off the market for now?
Related:
—Ziff Davis Pricing Itself Out Of The Market?
—Ziff Davis’ Two Units Being Hawked by Lehman; Enterprise Division Status Unclear
—Ziff Davis’ Enterprise Group Landing With Quadrangle?