Gallery Seeks to Turn Debt Into Stock

Gruenwedel, Erik
September 2008
Home Media Magazine;9/14/2008, Vol. 30 Issue 37, p10
Trade Publication
This article reports on the plan of digital videodisc (DVD) rental company Movie Gallery and private equity firm Sopris Capital Advisors to convert up to $205 million of first lien debt into common stock. Under the deal, Sopris would receive Gallery common stock valued at $10 per share. Sopris owns much of the rental company's pre-bankruptcy debt.


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