At closing, SBA issued 7.25 million shares of SBA class a common stock to the sellers, assumed Optasite’s fully-drawn $150 million senior credit facility (which bears interest at one month LIBOR plus 165 basis points and which matures in November 2010) and assumed approximately $25 million of additional liabilities which SBA satisfied in cash.
SBA received financial advice from Deutsche Bank Securities and Lehman Brothers on the proposed acquisition. Optasite’s financial advisor was Morgan Stanley & Company.
