By: delta0618 on Venerdì 17 Dicembre 2004 12:17
AH...se ieri qualcuno avesse avuto questa in portafoglio.... non si dannerebbe la vita facendo trading sui futures...eh..eh...se Elvis fosse ancora vivo....
On December 16, 2004 Sports Entertainment Enterprises, Inc. ("SPEA" or the "Company") entered into a definitive agreement with two entities controlled by Lisa Marie Presley, and RFX Acquisition LLC ("RFX Acquisition"), a company formed and controlled by Robert F.X. Sillerman, which if consummated will result in RFX Acquisition acquiring a controlling interest in SPEA simultaneous with and conditioned upon SPEA's acquisition of a controlling interest in entities which control the commercial utilization of the name, image and likeness of Elvis Presley, the operation of Graceland and the surrounding properties, as well as revenue derived from Elvis' music, films and television specials.
As part of the contemplated transaction, RFX Acquisition will contribute $3.43 Million cash to SPEA in exchange for 34,320,124 newly issued shares of SPEA common stock. In addition to the shares received from the Company, RFX Acquisition will receive warrants to purchase 8,689,599 shares of the common stock at $1.00 per share, 8,689,599 shares of common stock at $1.50 per share, and 8,689,599 shares of common stock at $2.00 per share. Simultaneous with this exchange, RFX Acquisition will also acquire an aggregate of 2,240,397 shares of the Company's common stock directly from certain principal stockholders of the Company at the same price of $0.10 per share. Upon consummation of these transactions, RFX Acquisition and its affiliates, including Mr. Sillerman, will own approximately 94% of the outstanding capital stock of the Company (or 96% assuming exercise of the warrants).
....Simultaneous with and conditioned upon the contribution by RFX Acquisition, Ms. Presley will contribute 85% of the outstanding equity interests of the two entities that own the assets of and control the Presley businesses in exchange for total consideration of approximately $100 Million, consisting of approximately $53.0 Million in cash, approximately $22.0 Million in Preferred Stock of SPEA, 500,000 shares of SPEA common stock and the assumption or extinguishment of approximately $25.0 Million of outstanding indebtedness. Ms. Presley will retain a 15% interest in the two entities, which would operate as 85%-controlled subsidiaries of the Company......