According to ManTech (NASDAQ:MANT), “the firm is ending its previously announced private offering of $200 million in aggregate principal amount of 7.25% Senior Notes due 2018 (the “Notes”). Certain of ManTech’s existing and future wholly-owned domestic subsidiaries guarantee the Notes. The Notes were issued in a private placement and were resold inside the United States to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.
ManTech intends to use the approximately $196.0 million in net cash proceeds from this offering for general corporate purposes and to support future growth through acquisitions. As an interim measure, ManTech will pay down existing funded debt on its $350 million revolving credit facility, which will remain in effect following the offering and which matures in April 2012.
This announcement is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities, and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.”
