Comscore Announces Closing of Investment Transactions
Comscore, Inc. (Nasdaq: SCOR) announced the successful closing of investment transactions with Charter Communications, Qurate Retail, and Cerberus Capital Management on March 10, 2021.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Comscore, Inc. (Nasdaq: SCOR) announced the successful closing of investment transactions with Charter Communications, Qurate Retail, and Cerberus Capital Management on March 10, 2021. The investments involved cash in exchange for convertible preferred stock. The proceeds were utilized to repay Comscore's senior secured convertible notes and a foreign secured term note. Financial advisory was provided by Goldman Sachs & Co. LLC and Evercore, with various legal counsels involved. Further details will be shared in an upcoming Form 8-K filing with the SEC.
Positive
- Secured investments from reputable firms, enhancing financial stability.
- Repayment of senior secured convertible notes strengthens the balance sheet.
- The transactions may reduce financial liabilities and interest expenses.
Negative
- None.
Details
News Market Reaction – SCOR
The recorded move for SCOR in the trading session of this news was +3.24%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
RESTON, Va., March 10, 2021 /PRNewswire/ -- Comscore, Inc. (Nasdaq: SCOR), a trusted partner for planning, transacting and evaluating media across platforms, today reported the closing of its previously announced investment transactions with Charter Communications, Qurate Retail and an affiliate of Cerberus Capital Management.
Each of Charter, Qurate and Cerberus made a cash investment in exchange for shares of convertible preferred stock. Proceeds from the investment were used to repay and extinguish Comscore's senior secured convertible notes held by affiliates of Starboard Value LP. Comscore also repaid and extinguished its foreign secured term note.
Goldman Sachs & Co. LLC and Evercore served as financial advisors and Vinson & Elkins LLP served as legal counsel to Comscore.
Kirkland & Ellis LLP served as legal counsel to Charter, Baker Botts LLP served as legal counsel to Qurate, and Davis Polk & Wardwell LLP served as legal counsel to Cerberus.
Additional details regarding the transactions will be included in a Form 8-K filed with the SEC.
About Comscore
Comscore is a trusted partner for planning, transacting and evaluating media across platforms. With a data footprint that combines digital, linear TV, over-the-top and theatrical viewership intelligence with advanced audience insights, Comscore allows media buyers and sellers to quantify their multiscreen behavior and make business decisions with confidence. A proven leader in measuring digital and TV audiences and advertising at scale, Comscore is the industry's emerging, third-party source for reliable and comprehensive cross-platform measurement.
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SOURCE Comscore
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